In India soybean prices slightly recovered on Friday. the entire soy complex was bullish and in soybean prices rallied with the front-month contract hitting a four-year high of $10.83 c/bu due to strong export sales. The USDA update the net export sales for last week that showed 2.2 million metric tons soybeans were booked. About 41% of the week’s sales were previously announced via mandatory daily announcements. China purchased 55% of the total sales. Accumulated soybean commitments are 76% of USDA marketing year projected exports, which compares to 38% at the same time last year. The USDA announced the export sale by private exporters 152,404 metric tons of soybeans were sold to Mexico and 132,000 metric tons were sold to unknown destinations.
Soybean prices recovered by INR 250-300 PMT in the domestic markets. Soybeans arrival are reported around 75,000-76,000 metric tons in the domestic markets. In the future exchange soybean prices traded up by 1.00% and today it closed at INR 43,020 against yesterday close of INR 42,990.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 42,000-43,250 | |
| Maharashtra | 42,000-43,750 | |
| Rajasthan | 41,750-42,750 | |
| Rest India | 41,750- 43,250 | |
| As per moisture condition | *+GST 5% |
Market Prices:
The soybean meal prices opened flat in the domestic markets and some processors increase the prices by INR 200-500 PMT. The soybean meal prices range INR 33,300-35,200+ GST across India. Reseller are quoting soybean meal prices lower by INR 500-700 PMT.
The Sunflower meal pellet prices opened firm & the importers are quoting the prices in range INR 26,000- 27,000 +GST PMT ex Tuticorin port . Whereas resellers are quoting prices INR26,000-26,200 +GST PMT.
The rapeseed meal prices recovered by INR 200-400 PMT in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 33,300-34,600 |
| Maharashtra | 33,700-35,200 |
| Rajasthan | 34,200-35,000 |
| Karnataka | 34,500-35,600 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 35,800 -36,000+GST |
| Kandla-FAS (in USD/PMT) | 498 |
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 19,500-20,200 |
| Madhya Pradesh | 19,500-19,900 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 19,600-19,700+GST5% |
| Kandla-FAS (in USD/PMT) | 277 |