In India soybean prices opened flat to positive taking cues from International markets. Yesterday in CBOT, the soya complex rallied with a rally in soybean oil prices which push the complex up. Indonesia hike of Export Tax on Palm push soybean oils prices sharply up. Also the weakness in US currency push the soybean prices to rally. In Argentina many soybean processors workers were again on strike. Palm in MDEX is trading +92.
Soybean plantings in Argentina hit the halfway point at the start of December. Soybean sowing at 48.2% of the total projected 17.2 million hectares area of the Argentina that to be planted. In the country good rainfalls were observed over the past week which has improved the water availability on the ground in the large sector in the centre and northern agriculture areas. Good rains were observed in Brazil and the wetter weather is supportive for sowing progress. Weak China buying due to negative crush margins and faster planting progress in Brazil continued to drive long liquidations.
Today soybean prices opened flat in the domestic markets. All India soybeans arrival are reported around 39,000-41,000 metric tons in the domestic markets. In the future exchange soybean prices opened flat to positive and traded low by 0.94% & high by 0.62% & at present trading at INR 43,800 against yesterday close of INR 43,730.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 43,500-44,250 | |
| Maharashtra | 43,500-44,750 | |
| Rajasthan | 43,750-44,250 | |
| Rest India | 43,750- 44,750 | |
| As per moisture condition | *+GST 5% |
Market Prices :
The soybean meal prices opened flat 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 200-500 PMT. The poultry farmers/feed mfgs demand still remains weak.
The Sunflower meal pellet prices remains same & the importers are quoting in the price range INR 28,000- 28,500 +GST PMT ex Tuticorin port. Whereas resellers are quoting prices INR 27,800-28,000 +GST PMT.
The rapeseed meal prices open weak by INR 200-300 PMT in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 32,500-34,200 |
| Maharashtra | 33,700-35,000 |
| Rajasthan | 33,300-34,200 |
| Karnataka | 34,300-35,300 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 35,500 -35,600+GST |
| Kandla-FAS (in USD/PMT) | 491 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 25,500-25,600 | 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 | 27,000-27,500 | 32%-34% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 20,000-20,700 |
| Madhya Pradesh | 20,000-20,600 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 20,500-20,700+GST5% |
| Kandla-FAS (in USD/PMT) | 290 |