In India soybean prices recovered & opened firm

In India soybean prices recovered & opened firm to positive and the arrivals also reducing in the domestic markets. Yesterday in CBOT, soybean also traded firm to positive initially and later on reversed the early gains. The soybean meal prices moved up with the chances of lowering crop size of SA and also the chances that the USDA would lower further the US soybean end stocks in the today WASDE report. All have eyes on today’s WASDE report and funds are waiting for that report to define the next direction. Last week market observed the return of China demand and USDA also announced the export sales for both the old and new crop soybean to China. Yesterday also USDA announced another 132,000 metric tons export sales of soybeans to China for 2020-21 delivery. The weekly export inspections report showed 65.35 million bushel of soybeans were shipped on the week ending 7th January 2021 and that was a 1% increase on the week but shipments were 54% above the same week last year. China was the top destination for the week with 58% of the total.

Today soybean prices recovered by INR 250-500 PMT in the domestic markets.  All India soybeans arrival are reported around 29,000-32,000 metric tons in the domestic markets. In the future exchange soybean prices opened firm and traded high by 1.57% & closed at INR 46,540 against yesterday close of INR 45,870.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 45,250-46,250
Maharashtra 44,500-46,250
Rajasthan 45,250-46,500
Rest India 45,000- 47,250
  As per moisture condition *+GST 5%

Market Prices :

The soybean meal prices opened flat in the domestic market. Due to coming Pongal festival and the news of bird flu in several states which includes Kerala, Rajasthan, MP, Haryana, HP, Delhi and Maharashtra have kept the meal demand weak from last few days in the domestic markets. But soybean meal export demand is  good and last week also some good qty sold at USD 518 PMT FOB basis. The soybean meal prices range INR 32,800-36,200+ GST across India. Reseller in domestic markets are quoting soybean meal prices lower by INR 200-300 PMT.

The Sunflower meal pellet prices remains firm & the importers are quoting in the price range INR 28,000- 28,500 +GST PMT ex Tuticorin port. Whereas resellers are quoting prices INR 28,000-28,200 +GST PMT.

The rapeseed meal prices opened weaken by INR 300-500 in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 32,800-35,000
Maharashtra 33,500-36,200
Rajasthan 33,500-34,800
Karnataka 34,200-35,200
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 36,200 -36,500+GST
Kandla-FAS (in USD/PMT) 508



Sunflower Meal:


Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka NQ 26%
Karnataka NQ 32%
*+GST 5% Moral condition
Sunflower Meal Ex- Tuticorin & Vizag Ports
Port Meal Price PMT Min Protein
Ukraine Origin -Pellets(in INR/PMT) Tuticorin 28,000-28,500 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag 26,300-26,500 32%-34%
*+GST 5% Moral condition



Rapeseed Meal:

Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 19,600-20,500
Madhya Pradesh 19,500-20,100
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 20,200-20,400+GST5%
Kandla-FAS (in USD/PMT) 288