30th Jan 10 (Indicative prices pmt fob/fas port India in bulk)
Soybean Meal - US$ 385-390 fob Kandla / Bedi port ; Rapeseed Meal - US$ 238-240 fob Kandla port ; Peanut (Groundnut) Meal - US$ 365-368 fob Bedi port ; Rice Bran Meal - US$ 180-182 fob Kakinada
The prices for Indian soymeal dropped down by more than 5% due to weaker export demand. The major supply of the country is to South East Asia which at present is importing mainly from Argentina and Brazil. The upcoming crop of oilseeds in India also put pressure on soybean prices resulting in dropping of meal prices.
Cbot soymeal futures for the month of March moved downward by more than 4% pressurising the prices of other origins including India. The prices of rsm and peanut meal too dropped down in tandem with soybean meal. Argentine soymeal is at around US$ 373-375 fob.
Wholesale Prices of Soymeal in Indian market:
Indore - US$ 368 per ton
Mumbai - US$ 430 per ton
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