Soybean prices were down in Akola, a key market for the oilseed, because of lower demand from crushers for meal. The most active soybean futures were down 1% at 3,721 rupees per 100 kg tracking sharp fall in the soybean contracts on CBOT.
Soybean prices seen up; rift with US may steer China demand to India
Prices of soybean are expected to top 4,000 rupees per 100 kg, a level last seen two years ago, in a month due to high probability of China buying Indian soymeal, coupled with shrinking arrivals in physical markets. Currently, soybean prices at the key market of Indore are around 3,700 rupees per 100 kg. With US-China trade relations uncertain, in all probability, China may have to look to other markets to fulfil its demand for soybean.
Kota coriander up on bargain buying, low arrivals
Prices of coriander rose marginally in Kota, Rajasthan, today due to a sharp fall in arrivals and increase in buying at lower price levels. Prices have been on the decline for the past two weeks. The most active May contract of coriander on the NCDEX traded up 0.6%.