Thursday, 8 October 2020

Soybean and soya oil prices High?


On Tuesday, the price of refined soya oil rose 2.1 percent in futures due to increased demand. October delivery of refined soya oil on NCDEX rose by Rs 11 to Rs 902 per 10 kg. It's November delivery also rose by Rs 4.9 to Rs 905.1 per 10 kg. Soybean prices (October delivery) rose by Rs 12 to Rs 3,830 per quintal on NCDEX due to strong spot demand. Its November delivery price also rose by Rs 18 to Rs 3,865 per quintal. Market sources said that speculators created fresh positions due to increased demand, leading to rising in soybean prices mainly in futures trade. 

Soybean prices rose by Rs 28 (0.67 percent) to Rs 4,190 per quintal for December delivery on the National Commodity and Derivatives Exchange (NCDEX). It traded for 21,455 lots. At the same time, the price of soybean for delivery in January was 32 rupees (0.76 percent), strong at Rs 4,230 per quintal.

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