Domestic soyabean prices under pressure

Soyabean prices have risen 12.8 per cent in global markets this year, but are likely to come under pressure in the medium term due to production surpluses. Soyabean production for the 2012-13 marketing year has been estimated at 269.6 million tonnes (mt) by the US Department of Agriculture (USDA), up 12.4 per cent from 2011-12 levels. Coupled with an increase in the acreage under cultivation, easy availability will have a depressing effect on the agri-commodity’s fortunes. At the same time, any short-term lull in prices...