Riken Mehta
Moneycontrol Bureau
Indian soybean futures climbed to a record high on Wednesday, and according to a Reuters report, this has been caused by concerns over the crop in the United States and delayed sowing in India due to weak rainfall in the key growing region.
Soybean demand-supply situation in the world market is becoming tighter due to dry weather in the US, the Reuters report adds.
The rally in the US soybean prices has lifted prices in the Indian market as well. Among the stocks with a high correlation with Soybean prices is Ruchi Soya . Besides being a leading manufacturer of high quality edible oils, vanaspati, bakery fats and soya foods, Ruchi is also the highest exporter of soya meal and lecithin from India.
See the chart below. Unit: Rs/quintal
Moneycontrol Bureau
Indian soybean futures climbed to a record high on Wednesday, and according to a Reuters report, this has been caused by concerns over the crop in the United States and delayed sowing in India due to weak rainfall in the key growing region.
Soybean demand-supply situation in the world market is becoming tighter due to dry weather in the US, the Reuters report adds.
The rally in the US soybean prices has lifted prices in the Indian market as well. Among the stocks with a high correlation with Soybean prices is Ruchi Soya . Besides being a leading manufacturer of high quality edible oils, vanaspati, bakery fats and soya foods, Ruchi is also the highest exporter of soya meal and lecithin from India.
See the chart below. Unit: Rs/quintal
No comments:
Post a Comment