Soyabean price in the country has crossed the figure of 7 thousand rupees per quintal. Last year, this rate was around 4500 rupees.
Current prices of soybean oil.
With the second wave of Corona in Desh Aay, the situation is getting worse every day. Many states have imposed restrictions like lockdown and night curfew to overcome this. According to the RBI, if long restrictions on movement remain in force, then this will affect the supply chain and then the demand for the necessary goods will increase and this may increase inflation. The National Commodity and Derivatives Exchange (NCDEX), the futures market of the country, is pointing to rising inflation in the country by its signal.
The biggest example of this is soybean oil. According to NCDEX, soybean oil has become costlier by 72 per cent in the last 11 months. Experts believe that its rates can still increase further.
Up to 72 percent increase
The demand for mustard oil has increased during the Corona epidemic. But the prices of soybean oil have risen sharply. Within 11 months, the price of soybean oil has increased by 72 percent.
Farmers are getting good prices
Soyabean price in the country has crossed the figure of 7 thousand rupees per quintal. Last year, this rate was around 4500 rupees. Seafood oil is commonly used in food. Due to its increased prices, the burden on the budget of the common man’s kitchen has increased. However, farmers of the country are getting good prices of oilseed crops this time.
Increasing sentiment due to people
Experts say that the lockdown period has been extended in many cities of the country. People are afraid that if the lockdown is prolonged, the availability of food and drink will be reduced. Because of this, people are storing the chajas of food and drink. By doing this, the prices of food and drink in the market will increase further. It is also seen in many places.
Current prices of soybean oil
- Soybean Dana 7220 – 7320 Rs.
- Soybean Loose 7120 – 7170 Rs.
- Soybean Oil Mill Delivery Delhi-15300 Rs.
- Soybean Mill Delivery Indore – Rs 14950.
- Soybean Oil Digam, Kandla – Rs 14000.
Agradex has grown by 44 percent in the last 11 months in NCDEX, the largest futures market for agricultural products. It is clear that how fast the prices of food and drink have increased in the country. When it started in May last year, it was at 1000 points, which has now risen to 1435.
read this also: This mobile app is very useful for the farmers, it will tell from the cost of farming to the sale of produce.