Soybean prices in India saw a substantial 23.75% YoY decrease in W49, following a consistent decline since W46, with an additional 3.3% MoM and WoW drop. Despite these declines, 2023 prices remain relatively lower than those in 2022, reaching around USD 0.75/kg compared to the 2022 peak of USD 0.99/kg. Attributed to record domestic edible oil stock, elevated soybean production, heightened edible oil imports, weakened demand, negative crush margin, and increased arrivals.
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