Soyabean price dip 7% in Feb after rising 15% in Jan

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Soyabean prices have fallen about 7 per cent in February after increasing nearly 15 per cent last month, even as imports have touched 1,20,000 tonnes and domestic prices are ruling firm.

The reverse trend in Soyabean prices was a result of increase in imports from African countries. The landed cost of imported Soyabeans is Rs 3,500 per quintal.

The commodity is being imported mainly from some least-developed countries with which India has signed treaties for concessional or duty-free imports.

At the Indore market, Soyabean prices have fallen to Rs 3,600 per quintal from Rs 3,800 per quintal on January 29 while the price was Rs 3,250 a quintal on January 1. The minimum support price of Soyabean for 2018-19 is Rs 3,399 per quintal

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