MARKET DEVELOPMENT
Soyabean in Bear Grip
Soyabean in Bear Grip
16/02/2016 (Hindu Business Line) - Both soya oil and soyabean continued to trade low on weak global cues and slack physical demand with soya refined in Indore mandis being quoted at ₹615 for 10 kg, while soya solvent ruled at ₹590-595. Besides weak physical demand and steep decline in soyameal export, increased demand in palm oil, aided the bearish trend, said Mahesh Purohit, a local trader.
Amid arrival of 2,500-3,000 bags, soyabean ruled at ₹3,750-3,800 (up ₹100 from last week). Plant deliveries of soyabean ruled stable at ₹3,750-75 a quintal. Soyameal prices on the spot quoted at ₹34,000 a quintal.
Amid arrival of 2,500-3,000 bags, soyabean ruled at ₹3,750-3,800 (up ₹100 from last week). Plant deliveries of soyabean ruled stable at ₹3,750-75 a quintal. Soyameal prices on the spot quoted at ₹34,000 a quintal.