Soyabean prices have fallen below Rs 6,000 per quintal in key markets across the country on new crop arrivals and the commencement of soymeal imports. The commodity prices had touched a record high of Rs 10,000 per quintal in the months of July and August, causing distress to the poultry and livestock sector. Soymeal forms a major part of cattle feed for these sectors.
On Monday, Latur Agriculture Produce Market Committee (APMC), a key soyabean and pulses market in Maharashtra, reported arrivals of 15,000 quintals with average prices ranging between Rs 5,500 per quintal and Rs 6,100 per quintal. Lalit Shah, chairman, Latur APMC said that the Latur APMC had recorded the highest arrivals of the commodity in the country on the day. “The market committee officials were surprised to note such high arrivals in the beginning of the season. Prices dropped because of the high moisture content in the commodity ranging between 20% to 22% but farmers had brought the crop in anticipation of good money,” he felt. Arrivals in the same market on Tuesday were to the tune of 12,000 quintals and prices remained in a similar range. Soyabean prices were Rs 7,500 per quintal at Indore, another major soyabean market in Madhya Pradesh.
Source:financialexpress.com