In the international market, there was a recovery of soybean prices. The price of soybean reached close to the height of 7 months. Soybean reached close to $ 10.60 per bush. In February, the price of soybean reached $ 10.75/Bushell.
Where did Soybean get support?
Soybean crops benefited from rain in Argentina. Even after the rain, there are drought -like conditions in Argentina. The market is expected to fall production in Argentina. At the same time, crops were damaged due to excess rainfall in Brazil. There is uncertainty in the market regarding production. Meanwhile, the market is eyeing the demand of China.
If we look at the estimate of soybean production in India, then 56.53 lakh tonnes of soybean is estimated to be produced in Maharashtra. While 52.86 lakh tonnes in Madhya Pradesh, 11.77 lakh tonnes in Rajasthan, 4.56 lakh tonnes in Gujarat and 4.46 lakh tonnes in Karnataka are estimated to be produced.
L’or coffee prices break all records
Meanwhile, L’or coffee prices have broken all records. The price of Arabic coffee futures has crossed $ 4 per pound in New Yors. This is the first time. This is the 10th session when prices are faster. According to news agency Reuters- Brazil, the world’s largest country producing coffee, is currently struggling with weather problems. The effect of which is on coffee cultivation.
