Soyabean trading range for the day is 4561-4669 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4561-4669.
Soyabean prices remained supported following improved demand from China, slower than expected pace of harvest in the US due to crop damage
Arrival of new season crop has started, however the pace of arrival is slower than expected.
Brazilian soybean harvest at slowest pace in a decade on incessant rains
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 4715 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5484-5672.
Mustard seed dropped as year on year, the planted area of mustard has increased by 6.7 percent approximately.
The latest Government data shows that the planted area in Mustard has so far reached 73.25 Lakh hectares
India’s 2020-21 mustard crop may touch 100 lakh ton-level due to higher sowing and conducive weather. Sowing
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6265.75 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1089-1143.
Ref soyoil gained as support seen from higher demand for edible oils amid winter season and lower imports of Soybean oil in the recent months.
The basic custom duty on soybean oil duty is cut to 15% from 35% and has proposed 20% cess
Export of Oilmeals Doubled in December 2020
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1116.1 Rupees per 10 kgs.
CPO
CPO trading range for the day is 966-1005.8.
Crude palm oil traded in range hit by concerns over additional tax imposed by top global vegetable oil importer India
India cut the basic import tax on crude palm oil to 15% from 27.5%, but imposed a 17.5% "cess" - a separate tax - on the imports
Exports of Malaysian palm oil products for January fell 32.1 percent to 1,103,618 tonnes from 1,624,757 tonnes shipped during December
In spot market, Crude palm oil gained by 24.1 Rupees to end at 986.7 Rupees.
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