New Delhi. Arrival of new soybean has started increasing in top producing states like Madhya Pradesh and Maharashtra, but the moisture content in it is still high, hence there is pressure on prices. There is news of a decrease in the total import of edible oils including soybean oil in September. There is also festive demand for edible oils. The government has announced to buy soybean from farmers at the minimum support price in Madhya Pradesh and Maharashtra as well as Karnataka and Telangana. This time the support price has been fixed at Rs 4892 per quintal. A few days ago, the market price had increased and reached close to the support price, but in the week from 27 September to 3 October, it came down again by Rs 100-200.

During the week under review, the plant delivery price of soybean was recorded at Rs 4700/4800 per quintal in Madhya Pradesh, Rs 4650/4750 per quintal in Maharashtra and Rs 4675 per quintal in Rajasthan. The market may become somewhat bullish after the start of government procurement at the support price.

The total arrival of soybean was 2.25 lakh bags on September 27, which increased to 2.70 lakh bags on September 30. On October 1, 2.60 lakh bags (each bag of 100 kg) arrived. Madhya Pradesh is receiving an average daily arrival of 50 to 70 thousand bags of new soybean, while Maharashtra is receiving 40 thousand bags of new goods.

During the week under review, due to the fall in the price of soybean, the price of soybean refined oil also softened a bit. But still it remained above Rs 120 per kg. On the other hand, its price increased by Rs. 40 in Kota, Rs. 70 in Mumbai and Rs. 10 in Kandla to reach Rs. 1275, Rs. 1320 and Rs. 1245 per 10 kg respectively, while it fell by Rs. 25 in Haldia to Rs. 1225 per 10 kg.