Cotton oilcake is currently trading at Rs 1,472 a quintal in the Akola market. New crop arrivals have commenced in North India. Production is expected to be higher this year. New crop arrivals will also begin in Gujarat and Maharashtra from next month. Prices are expected to decline further towards Rs 1,455 per quintal in the coming days.
Soybean is trading at Rs 3,090 per quintal in Indore. In the coming days, prices are expected to head towards Rs 3,050 per quintal. Prices are expected to remain under pressure due to record carry forward stocks and forecast of dry weather over the next few days, which would speed up the harvest process.
Prerana Desai, VP-Research -Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain