On Tuesday, the prices of soybean were increased by the plants. Many traders were also surprised by this. Actually, the old stock is good. The new crop is on the way.
In such a situation, questions were raised on the increase in prices. The reason given was that soybean is damaged due to continuous rain. However, in reality, there is no news of any major damage to the crop so far.
Damage to peanut crop due to rain
Experts are saying that soybean production will be more than last year. The correct report will be available in October. Soybean would have been damaged by rain if the crop had ripened and rain had fallen. However, due to waterlogging in the fields in Gujarat, peanut crop is definitely being estimated to have suffered some damage. This can affect the crop by 5 to 10 percent.
Weak arrival of soybean in the markets
Due to continuous rain in many areas of Madhya Pradesh, the arrival of soybean in the markets is very weak, whereas the demand of the plants is good, due to which the prices of soybean are gradually improving. It is being said that the prices have also increased due to the pressure of farmers and the impact of Maharashtra elections. The government is giving air to the fact that due to the oilseed mission, the import of edible oil will be reduced in future.
Sunflower oil prices rise
In Indore improved to 972-975 and palm oil Indore reached 1035-1040 rupees per ten kilos. The market of soybean oil is becoming fragile due to the attitude of the government. If the demand increases, a situation of further rise can be created.
With the support of strength in palm and other oils, the prices of sunflower oil have increased by 4-5 rupees per kilo. In the market, the prices of mustard Nimari (fine) were 5750-5800, average mustard fine 5400-5600, rai 5200-5400 and soybean were 4500 rupees per quintal.
Loose oil- (Price per ten kilos)
Groundnut oil Indore 1560-1580, Mumbai Groundnut oil 1570-1590, Indore Soyabean oil refined 972-975, Indore Soyabean Solvent 925-930, Indore Palm 1035-1040, Mumbai Soya refined 980-985, Mumbai Palm oil 970, Rajkot Telia 2430-2450, Gujarat Loose 1560-1580, Cottonseed oil Indore 965-970 rupees.
