Refined Soya Oil

Soybean production in the country has increased by about 6 per cent to nearly 126 lakh tonnes in the current kharif season due to favourable weather conditions, an organisation of the crop processors said on Tuesday. Its acreage remained almost the same as last season, the trade body said. During the last kharif season, the average productivity of soybean per hectare in the country was 1,002 kg, while this time it has increased to 1,063 kg, Soybean Processors Association of India (SOPA) Executive Director D N Pathak told PTI. "This time the distribution of monsoon rains in the major soybean producing areas of the country was good, which boosted the crop yield. The adoption of advanced methods of farming by cultivators and increased the crop yield," he said. After the sowing of soybean during the kharif season of 2023, there was a severe lack of moisture in the fields due to lack of rain for three weeks in the major soybean producing areas in August, as a result the crop productivit

The companies said it takes about 50 days for the oils to be imported to India, during which they lose their quality and original taste

Move in contrast with mood in the market

As per govt data, average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across country since beginning of this month and are ruling between Rs 150 and 190 per kg.

Lower palm oil purchases by the world's biggest vegetable oil importer could put pressure on Malaysian palm oil prices and may lift soyoil imports to record highs and support U.S. soyoil futures price

Move might impact farmers' realisation when kharif harvest is on, say industry players

India's sunflower oil imports rose 31% to 175,759 tonnes in May, it added.

The country's soyoil imports in July surged 52 per cent from a year ago to 484,525 tonnes

Barley is trading at Rs 1,595 per quintal in Jaipur market

Though domestic demand is need based, supply scenario is extremely tight due to logistic bottlenecks amid slowdown in transport

Oil for delivery in August contracts traded higher by Rs 7.75, or 1.22%

Oil for delivery in July shed 65 paise, or 0.10%

Oil for delivery in August weakened by 45 paise or 0.07%

Oil for delivery in June contracts traded higher by Rs 2.20 or 0.34%

Oil for delivery in far-month May eased by Rs 2.90, or 0.44%