According to market observers, the farmers have been
steadily unloading beans into the market
to avail better prices offered by the
stockists and solvent units. Further arrivals are expected after the Sankranti
festival. Good domestic
demand for soy meal and regular off take from the solvent units have kept the sentiments firm.
According to the industry sources around
4.7 million tonne of soybean were sold
during October-December, out of the total estimated production of 7.2 million tonne for the oil
year 2006-07. This leaves 1.8-1.9 million
tonne of soy stocks with the farmers to
be sold in the open markets in the remaining 10 months of 2006-07 (November-October),
after taking into account the crop
retained for re-sowing and last year's
carry over
stocks.