In India soybean prices opened flat in the physical markets as arrivals reported weak despite weak prices in future exchange. Yesterday in CBOT, the soybean recovered initially & closed weak as profit booking was observed in soybean and soybean meal on pre-holiday profit booking. Yesterday initially the recovery in soybean prices in the CBOT was indicating that the supply concerns due to LA-Nina remains and the rally may not be over. Brazil 2020-21 soybean crop is estimated at 130 million metric tons by Rabobank, which is 3 million metric tons low of the current WASDE number. La-Nina is at strongest level in almost a decade/many Argentina areas face moisture deficit.
Today soybean prices traded flat to weak in the domestic markets. All India soybeans arrival are reported weak around 35,000-36,000 metric tons in the domestic markets. In the future exchange soybean prices opened weak and traded low by 2.15% & at end of day closed weak at INR 43,500 against yesterday close of INR 44,100. Today Indian Government also reduce the import duty on crude palm oil
by 10% from 37.5% to 27.5% and on other oils it remains unchanged.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 43,500-44,250 | |
| Maharashtra | 43,250-44,750 | |
| Rajasthan | 43,500-44,250 | |
| Rest India | 43,500- 44,750 | |
| As per moisture condition | *+GST 5% |
Market Prices :
The soybean meal prices traded flat to weak in the domestic markets. The soybean meal prices range INR 32,500-35,300+ GST across India. Reseller are quoting soybean meal prices lower by INR 400-700 PMT. The poultry farmers/feed mfgs buying remain weak with weak prices of soybean in the future exchanges.
The Sunflower meal pellet prices remains same & the importers are quoting in the price range INR 28,200- 28,500 +GST PMT ex Tuticorin port . Whereas resellers are quoting prices INR 27,900-28,000 +GST PMT.
The rapeseed meal prices open flat to weak in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 32,500-34,500 |
| Maharashtra | 33,800-35,300 |
| Rajasthan | 34,000-34,700 |
| Karnataka | 34,500-35,200 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 35,500 -35,800+GST |
| Kandla-FAS (in USD/PMT) | 493 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 24,500-25,000 | 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 | 28,200-28,500 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | NQ | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 20,300-20,900 |
| Madhya Pradesh | 20,300-20,800 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 20,400-20,500+GST5% |
| Kandla-FAS (in USD/PMT) | 287 |