Handicap for soybeans and mustard

Prices of soybean futures (march) are likely to be hindered at the level of Rs 3,725 and the increase in prices may be banned.

At present, prices of South American Soymil are significantly lower than Indian Soymeals. Therefore, the reduction in export demand of Indian Soymil is likely to continue and the pressure on domestic prices can remain intact. 

Due to higher supplies in domestic markets, prices of CPO futures (march) are likely to fall and prices may fall by Rs 542. According to industrial sources in the Kuala Lumpur conference, prices of palm oil have declined in BMD due to increased production estimates of palm oil in Malaysia and Indonesia. The market watch will be on the Malaysian Palm Oil Board’s data released on March 11.

The purchase of mustard futures (April) may have to face the obstacle at the level of Rs 3,845. In 2018-19, the production of mustard in the country is estimated to be 85 lakh tonnes, with a surge of 19% compared to 71.5 lakh tonnes of last year. Due to better weather in major production areas, there is a possibility of increasing productivity in the current season. This year, the productivity of mustard is estimated to be about 1,281 kg per hectare compared to 1,120 kg per hectare of last year. In some areas of Rajasthan, the arrival of new crop has started, and in the business sources, so far, about 20-25% of the crop has been harvested and the remaining crop is likely to be harvested in the next 3-4 weeks.

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