Soybean oilseed and mustard oilseed prices remained steady on Saturday as Delhi’s oilseeds market improved due to increased local demand for soybean oil-free oil (DOC) along with festive demand.
Traders said there was a severe shortage of soybean in the market. Soybean Maharashtra, Rajasthan, Producers like Karnataka Not available in the states so its prices are high.
In futures trading, the contract price for the October delivery for the next soybean crop in about a month is Rs 6,400 per quintal, down 32-33 per cent from Rs 30 per kg. The reason for this shortfall is more than the reduction in import duty by the government for the upcoming crop which is likely to be better in production and of better quality.