On Monday, soymeal prices remained stable at INR 37,500/MT as compared to previous day

Soymeal

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·         In most of the market, soymeal prices remained stable at INR 37,500/MT as compared to previous day amid subdued demand.

·         Over the past month, soymeal prices have gone down by 5%. Looking at the broader trend, prices declined by 13% in the past six months and over the course of the last year prices are down by 15%.

·         Soymeal prices in the domestic market are expected to trade range bound with weak bias in the range of 36,000-40,000 in near term.