Maharashtra will make policy on soybean purchase. A policy will be made so that there is no hassle in purchasing. The state government has given instructions for this. The marketing year runs from November-October. There is a plan to build an Agro Logistics Hub in 4th Division.
Let us tell you that the arrival of soybean in the country was 11% less than last year. There has been 14% less crushing than last year. By the end of December 2023, the arrival of soybean in the country was 52 lakh tonnes, while by the end of December 2024, the arrival in the country was 46 lakh tonnes.
increased demand for soymeal
Export of soymeal has increased in December. Export of soymeal in December was 2.77 lakh tonnes. Exports have increased due to increased demand from Europe. Domestic demand remains at 5.5 lakh tonnes. Let us tell you that 2.74 lakh tonnes of soymeal was exported in December 2023, while 2.77 lakh tonnes of soymeal was exported in December 2024.
Who bought how much soymeal?
Germany had purchased 49875 tonnes of soymeal, while Netherlands had bought 39088 tonnes, Bangladesh 32002 tonnes, France 28542 tonnes, Nepal 27724 tonnes and Belgium 17800 tonnes.
SOPA’s ED, DN Pathak Says that the decision of Maharashtra government is in the interest of farmers. Soybean farmers will benefit from procurement through Agri Hub. The industry will also benefit from becoming an Agri Hub.
Rise in palm prices in international market
Palm prices have increased in the international market. In Malaysia the price has crossed 4500 ringgit. There has been an increase of more than 200 ringgit in 5 days. Had fallen for 2 months on 9th January for 2 months. There has been a rise after getting support from lower levels. There was pressure on prices due to decline in demand. If we look at the movement of palm oil, it has increased by 3.13 percent in 1 week whereas it has declined by 5.21 percent in 1 month.