In India soybeans market opened flat to positive on Monday

In India soybeans market opened flat to positive on  Monday taking cues from international markets but after few hours traded weak in the future exchange with the news of sun shines in soybean-growing belts after last week rains. Though the domestic markets are closed in MP state due to strike. The southwest monsoon has started withdrawing from west Rajasthan and Punjab.

In Cbot soybean prices are trying to hold on to the $10. The trade believed that the selling in futures was due to profit taking and squaring off of positions before the US harvest. China demand has been cooled for the time being but may see a wave of purchases ahead of the week long Golden Week holidays over Oct. 1-8.

Today soybean prices opened flat but later on the processors reduce the prices by INR 250-500 PMT. In the future exchange soybean traded low by 1.33% and closed at INR 38,800 against Friday closed at INR 39,180.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 38,750-39,500
Maharashtra 37,750-40,000
Rajasthan 38,000-39,250
Rest India 38,250- 39,000
  As per moisture condition *+GST 5%

Market Prices:

Today soybean meal prices opened flat to weak by INR 500-600 PMT. The soybean meal prices range INR 30,000-33,500+ GST across India. Resellers are quoting the prices lower by INR 200-300 PMT.

Importers are quoting the Sunflower meal prices lower by INR400- 500 PMT. The Sunflower meal pellet prices quoted by importers are in range INR 24,500- 25,000 +GST  PMT ex Tuticorin port & INR 24,500-25,000+GST PMT ex Vizag port. Whereas resellers are quoting prices INR23,800-24,000 +GST PMT.

The rapeseed meal prices opened flat but later traded weak by INR 200-300 PMT in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 30,000-32,000
Maharashtra 30,800-33,500
Rajasthan 31,800-32,300
Karnataka 31,500-32,200
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 31,500 -31,700+GST
Kandla-FAS (in USD/PMT) 440


Sunflower Meal:


Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka 18,500-18,700 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 24,500-25,000 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag 24,500-25,000 35%
*+GST 5% Moral condition



Rapeseed Meal:


Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 17,300-18,000
Madhya Pradesh 17,500-17,800
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 17,600-17,700+GST5%
Kandla-FAS (in USD/PMT) 250



In the last 24 hours, moderate to heavy rainfall observed at north east India, WB, Sikkim, Bihar, south east MP,  south Chhattisgarh, Odisha, TN & Kerala

Light to moderate rains observed at some areas of south east Rajasthan, east Gujarat, Telangana, AP & costal Karnataka.

The southwest Monsoon  has withdrawn from some areas of west Rajasthan and Punjab and conditions are favourable for further withdrawal of southwest monsoon. The weather will remains clear and dry in north west India.

Light to moderate rainfall may be expected northeast India, WB, south east Rajasthan, Gujarat, south MP, south Chhattisgarh, Telangana, AP, Odisha, Karnataka, TN & Kerala.