New delhi,chairperson of Solvent and Extractors Association of India, in his letter pointed out how speculative activities in the last month have seen the price of the oilseed on NCDEX’s platform reach Rs 7,250 per quintal from the then previous Rs 5,750.
The main organization of soybean processors stated that this is necessary to control “unintentional speculation” in the derivatives market. According to SOPA’s estimation, the national soybean output is 96.71 million tons. The country reported that between October 2021 and March 2021, 74.75 million tons of crushed rock arrived on the market. SOPA estimates indicate that 36.64 billion tons of oilseeds are still left to farmers, stockists, merchants and others.
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