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Soybean meal Prices Apr 08

(Indicative Commodity Prices in US$ PMT FOB port, India)

25 April
Soymeal is getting traded on same level of US$ 420-425

23 April
SBM - US$ 420-425
the demand got support on lower levels so prices went up. for last few days soybean meal is trading in the range of 410-425 and is expected to do same in near future.

19 April
Soymeal - US$ 423-428

15 April
Soymeal - US$ 425-430
the price of soyameal are slowly and steadily going on the higher side as right now India is calling the shots in feed meal market.

10 April
Soybean meal - US$ 420-425

as expected the prices of soymeal has jumped up as supplies from south america esp. Argentina are low this year. also India has the freight advantage over its american competitors for supply to Asian countries. this year has been very great for Indian oilmeals as it has not only shown enormous jump in its sales but also in realisation. the realisation in dollars terms are 60 to 80% higher than last year. In rupee term it is even more as this year rupee had appreciated a lot against dollar but that has not dented soybean meal, rapeseed meal, peanut meal or castor meal sales.

7 April
Soybean meal - US$ 410-415
as there are concerns with regard to south american supply, indian prices are slowly and steadily moving upwards and may touch US$ 425 this week itself.

4 April
US$ 409-413
soybean meal prices received some support due to demand at lower prices to once again move upwards. prices are expected to stay in the range of 400-425 in short term as there are concerns with regard to supply from South America.

03/04
Soy meal dropped down by almost 1% to close at US$ 405-410

2 April
Soybean meal - US$ 409 - 414
prices further dropped today showing declining trend but chances may be less of going below the level of $400

1st April 08
US$ 415-420
in a bid to cool down agri prices govt has reduced import duty on edible oils so soybean dropped and so did soybean meal.

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