Commodity Online
MUMBAI: Despite anticipation of a fall in soybean output, solvent extraction stocks traded firm on the bourses today.

India’s soya bean output is estimated to fall to 8.2 million tonnes in the crop year ending September 2009, down by over a fifth from early estimates. The lower rainfall in the crop producing areas had caused a downward revision in crop production estimations. Earlier estimation was of 10.8 million tonnes.



Despite of the lower estimates of crop output, solvent extrusion stocks on the Bombay Stock Exchange (BSE) showed gains during the opening trading session today. Ruchi Soya Industries Ltd was trading with marginally gains of 0.74% at Rs.34.25.

Gujarat Ambuja Exports Ltd and Gokul Refoils and Solvent Ltd were trading with moderate gains of 3.45% and 1.26% respectively. Gujarat Ambuja traded at Rs.18, while Gokul Refoils was trading at Rs.241 during the morning trading session.

However, soyabean Futures traded firm on the commexes today. Indian soybean futures rose during early trade. Soya Futures for May contract stood at Rs.2673 per quintal on MCX, while in the spot market, the prices remained high at Rs.2698.

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