May 23, 2018 / 8:10 AM / in 3 months

Nagpur Soybean, Soyoil, Soymeal Open- May 23, 2018

Nagpur Soybean, Soyoil, Soymeal Open-May 23, 2018

Nagpur, May 23 (Reuters) – Rumours about likely to raise edible oil import duty has shown its
effects here. Soyabean and cottonseed oil prices rose in Vidarbha region of Western Maharashtra
on fresh buying by Vansaspati millers amid a firming global trend. Sentiment also improved after
American soya digam and palm oil climbed in Malaysian oil market. Good hike on NCDEX, healthy
rise in Madhya Pradesh soyabean oil, reported demand from South-based traders and weak overseas
supply also fuelled price, according to sources.

                       *****
VIDARBHA MARKETS
OILS
  * Groundnut loose, Groundnut refined, Sunflower, Linseed, Rapeseed, Castor
    and Coconut KP oil ruled steady here in sluggish trading activity. 
  * Traders expect further rise in Soyabean and Cottonseed oil here.
    
   SOYMEAL

  * Soymeal prices today quoted steady here but demand was poor.
         
   SOYABEAN
  * Soyabean prices firmed up again in Nagpur Agriculture Produce Marketing 
    Committee (APMC) on increased demand from local traders amid thin supply from 
    producing belts. Fresh rise in soyabean oil, upward trend on NCDEX and notable hike 
    in Madhya Pradesh soyabean prices also helped to push prices here.
    About 300 soyabean bags reported for auction in Nagpur APMC, according to sources.  

 Nagpur soybean prices in rupees/tonne:
                           -----Soybean yellow-----       Soybean black
               Available          Previous
                       Auction price    (Auction price)
    Market delivery    32,000-36,000       31,800-35,750         --
    (Available price)
    Market delivery    32,100-36,100       31,900-35,850          --
    (Traders price)
    Plant delivery     38,000-38,300       38,000-38,300          --

    Soybean yellow arrivals (in 90-kg bags) and prices (in rupees per tonne) 
in Vidarbha, according to officials of Agriculture Produce Marketing Committee
and trade sources.
                         Deliveries          Available prices
    Hinganghat             200                   31,700-36,000
    Akola                  200                31,900-36,200
    Amravati               200                 31,700-35,800 
    Khamgaon               n.a.                   n.a.
    Wardha                 200            32,000-36,000 
    Arvi                   n.a.                   n.a.
    Umred                  n.a.                   n.a.
    Chandrapur             n.a.            n.a 

    Soyabean plant prices at other places in Maharashtra : Adilabad – n.a., 
    Akola – 38,000, Washim – 38,300, Khamgaon – 38,300, Dhulia – 38,400, 
    Hingoli – 39,100, Jalna – 38,500, Nandurbar – 38,100, 
    Latur – 38,800, Nanded – 39,100, Solapur – 39,100, Sangli – 38,500.
        
    Sunflower arrivals (in 50-kg bag), Rapeseed (in 40 Kg bag), groundnut and
Dhaniya arrivals (in 40 kg bag), linseed arrival (90 kg bag), Dhan arrival (75 kg bag), cotton
(100 kg) and prices (in rupees per 100 kilogram) in Nagpur, according to APMC sources:

                        Deliveries    Available prices    Previous close
    Sunflower              n.a.            n.a.                2,400-2,600
    Groundnut              n.a.            n.a.                700-900
    Linseed                n.a.            n.a.           4,300-4,600
    Castor                 n.a.            n.a.            2,850-3,000
    Rapeseed               n.a.            n.a.                1,520-1,625
    Til                    n.a.                n.a.                7,500-8,000
    Dhaniya                n.a.            n.a.           5,400-5,800 
    Bajra                  n.a.            n.a.               n.a.
    Gavarani Corn          n.a.           n.a.             1,100-1,300
    Dhan                  n.a.            n.a.             2,100-2,441
    Cotton            n.a.              n.a.             4,300-4,600

                                                                        
        NAGPUR
                              
                                Wednesday’s open   Previous close   
   
    Soyoil refined crushing plant delivery         751            758
    Soyoil solvent crushing plant delivery         721            718    
    Cottonseed refined                             740            735
    Cottonseed solvent                             720            715
    Groundnut oil (loose)                          1,020          1,020
    Groundnut oil refined (15 Litre)               1,610          1,610
    Sunflower oil refined                          880            880
    Linseed oil                                    810            810
    Rapeseed oil (for 15 kg)                       1,300          1,300
    Castor oil (for 15 kg)                         1,420          1,420
    Coconut KP oil (for 15 kg)                     3,500          3,500

    AMRAVATI
    Soyoil refined                                 764            759
    Soyoil Solvent                                 724            720
    Cottonseed refined                             745            740
    Cottonseed solvent                             715            710

    AKOLA
    Soyoil refined                                 765            760
    Soyoil Solvent                                 725            721        
    Cottonseed refined oil                         750          748 
    Cottonseed solvent                             720            718

    DHULIA
    Soyoil refined                                 770            766
  
    AURANGABAD
    Soyoil refined 
                                                766            763
    JALNA
    Soyoil refined 
                                                   759            755
    NANDED
    Soyoil refined                                 756            751
   
    Soyoil refined prices at other places in Maharashtra : Latur - 755, 
    Parbhani – 767, Koosnoor – 764, Solapur – 755, Sangli – 766.

    (Please add 5% Goods and Service Tax on Soyabean and Cotton oil prices.)
                                     
Nagpur soymeal prices in rupees per tonne

                  Wednesday’s open     Previous Close
    Soymeal (Nagpur)                  31,000-31,500       31,000-31,500
      
    Soymeal prices at other places in Maharashtra : Akola – 30,600, 
    Washim – 31,500, Dhulia – 32,000, Hingoli – 32,500, Jalna – 32,000,
    Nandurbar – 31,600, Khamgaon – 30,500, Latur – 32,500, Nanded – 32,200,
    Solapur – 32,400, Dharwad – 32,100, Sangli – 32,500

WEATHER (NAGPUR)  
Maximum temp. 43.7 degree Celsius, minimum temp. 32.7 degree Celsius 
Rainfall : nil
FORECAST: Generally cloudy sky. Maximum and minimum temperature would be around and 44 and 33
degree Celsius respectively.

Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but
included in market prices.

  
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