Current Market Developments:
- Soybean prices in major spot markets of Rajasthan and Madhya Pradesh have declined in last fortnight. Supplies in markets have remained more than sufficient as compared to subdued demand from traders and stockiest.
- The overall weakness in edible oil complex has also kept pressure on Soybean prices.
- In the last fortnight Soybean prices in Akola has declined by 4 percent, Nagpur prices declined by 3 percent and at Indore market also prices have declined by 5 percent as Moreover, the buying from mills/plants and poultry industry have remained at weak.
- According to SOPA, from 01st October to June 2022 around 75 lakh tonnes of Soybean has arrived in markets. Out of which 60 lakh tonnes crushing has been done. And as on 01st July traders, mills and farmers are holding around 48 lakh tonnes of Soybean stock with them. Moreover, around 3.39 lakh tonnes of Soybean imports have been done between October 2021 to June 2022.
- In the global markets also, Soybean futures have remained weak at CBOT as the US Department of Agriculture forecasted weaker demand for oilseed and larger than expected domestic and world supplies in its monthly report.
- According to the Ministry of Agriculture, third crop advance estimates Soybean 2021-22 production is estimated higher by 10 percent at 138.28 lakh tonnes as compared to 126.10 lakh tonnes produced in 2020-21.
Soybean Price Trend Vs Seasonality at Key Markets
Progress Under Kharif Soybean Acreage: Major States
Soybean Area, Production and Yield: India & Major States
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