The Indian agriculture ministry on 17th July released the sowing progress report for this kharif season and according to them the area under oilseeds increased by 40.75% to 15.495 million hectare vs 11.009 million hectare during the same period previous season. In Soybean the farmers have sowed 10.9954million hectare which is up by 38.48% vs 7.9403 million hectare planted in the same week in the previous season. Also the area under groundnut sowing is up by 56.62% i.e 3.762 million hectare vs 2.402million hectare as compared the same week last season. This season highest increase was recorded in oils seeds & pulses (32.4% increase) because of the timely widespread rains, good soil moisture and well availability of labour in villages due to Covid. States wise sowing of soybean as below:
|Area in Million Hectare|
|Soybean sowing||As on 17th July 2020||Change|
Today soybean again opened +ve in the future exchange taking cues from International markets. The soybean prices recovered with recovery in oils prices. The soybean is trading at INR 38,060 against Friday closed at INR 37,860 and traded high by 1.06%. Most of the domestics markets are closed on account of Amavasya. MDEX again post sharp rally taking cues from CBOT Friday rally and also due to labour shortages, weather concerns and on lower production estimates. In India meal demand has still not recovered & with rising prices the feed mfgs & poultry farmers are buying very limited quantity as their actual requirement.
|State||Plant Price (in INR-PMT)*|
|As per moisture condition||*+GST 5%|
Today soybean meal prices recovered with increase in soybean prices by INR 200-500 PMT. Soybean meal prices range INR 29,000-32,800+ GST across India. For some plants material, the reseller are quoting as low as INR 28,800 PMT+ GST in MP and INR 29,700 +GST in Maharashtra.
But with the increase in meal prices the buying appear to be weak as feed mfgs/poultry farmers are buying soybean meal as per their requirements, even though the poultries/feed mfgs have a limited stocks in their hand.
The meal demand is weak due to ongoing shravan festival & the prospects of bumper sowing of soybean this season due to timely good rains & huge carry over weigh on soybean as well as meal.
The Sunflower meal pellet prices quoted by importers are in range INR 22,800- 23,200 PMT + GST ex Tuticorin port & INR 22,500- 23,000 PMT + GST ex Vizag port. The resellers are quoting in price range INR 22,300-22,500 PMT +GST at Tuticorin and Vizag port respectively.
In the last 24 hours, moderate to heavy rainfall observed at WB, Assam, Sikkim, AP, HP, some parts in UP, east MP, Vidharbha, costal AP, Rayalaseema, TN & some parts of Kerala.
Light to moderate rains observed at some places at Bihar, Uttarakhand, some parts of UP, Punjab, Haryana, west MP, Chhattisgarh, Gujarat, Telangana, Odisha, Telangana & Karnataka.
Cyclonic circulation is seen over south west Rajasthan.
Within next 24 hours moderate to heavy rainfall may be expected over WB, Sikkim, Assam, AP, North India, UP & Bihar.
Light to moderate rainfall may be expected over some parts of MP, Chhattisgarh, Vidharbha, Marathwada, Madhya Maharashtra, Gujarat, costal AP, Telangana, Odisha, Karnataka & Kerala.