Slow trend of soybean, refined and soy oil
With the soft trend of soybean futures (May) prices likely to slip to Rs 3,740. Due to low shopping at the mill, there is soft trend in soybean prices in the spot market. In Benchmark Latur market, the prices of soybean are in the range of Rs. 60 to Rs. 3,600-3,800 per 100 kg gram. Prices of Plant Delivery in Madhya Pradesh fall below Rs. 60 to Rs. 3.600-3.800 per 100 kg gram.Prices for plant delivery in Madhya Pradesh are in the range of 3,675-3,825 rupees per 100 kg and prices for the plant delivery in Maharashtra are in the range of 3,700-3,850 rupees per 100 kg gram. The crushing margin of soybean is better but due to low demand of soymeal, the purchases are being reduced on behalf of the mills.Prices of refined soya oil futures (May) are likely to fall by Rs 765 to Rs 765 while prices of CPO futures (APR) are likely to continue due to the trend of softening in the spot markets and prices may drop to Rs
In comparison, prices of edible oils are declining due to higher supply. According to the Salvent Extractor Association, India’s import of vegetable oils increased by 3% to 1.15 million tonnes in March. By April 1st, India had 770,000 tonnes of edible oil and 1.34 million tonnes in the pipeline. Prices of mustard futures (May) may fall by Rs 3,850.Countries due to low purchase from mills The trend of softening prices of mustard in the major spot markets. Meetings with the hope of a fall in prices are now far away from shopping.
Trending in turmeric and cumin
Prices of turmeric futures (May) are likely to increase to Rs 6,300-6,330 Despite higher arrivals, turmeric prices have been rising due to higher export demand. In addition, there is a possibility of inward progress in the Nizamabad market in the next 15 days, so stockists are buying all the incoming turmeric. Prices of cumin futures (May) are likely to continue to increase, while prices may increase by up to Rs 1,600-1,6200.Due to better procurement among the average arrivals, prices of cumin can be increased in the major spot markets of the country. In Rajkot and Gondal baza, prices of cumin have increased by 20-30 grams of 20 kg. In the markets of Rajasthan, prices have increased by 50-100 rupees per 20 kg. After the strategic tension in Syria, the export demand from India is likely to increase due to the supply of cumin in the international market is almost negligible.
Prices of coriander futures (May) are likely to be traded with the trend of softening and prices are likely to be in the range of Rs 5,160-5,225. Prices of coriander have dropped by Rs 100 per 100 kg in the Guna Market. Prices in the Rajkot and Gondal bazaars are trading in very small scope. There is a tendency of softness due to estimation of higher availability than weaker demand. Prices of cardamom futures (May) are likely to slip to Rs 980. Prices have declined due to inward and quality drop.
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