Soybean prices still below MSP; low procurement raises concerns

Soybean prices in states like Madhya Pradesh and Maharashtra continue to be below the minimum support price of INR 4,892 per 100 kg. This situation persists even after weeks of the government increasing import duties on edible oils, aimed at boosting domestic production. The drop in prices is due to factors like increase in supply, poor stock conditions, delayed and less procurement by the government, sluggish soymeal exports, and high import dependency. The current soybean prices are in the range of INR 3,800-INR 4,600 per 100 kg.Register to read

Farmers seen shifting from chana to wheat on better returns, yield

Farmers in some states of the country are seen shifting from chana to wheat cultivation this rabi season owing to better yields and returns on the cereal, analysts and traders said. The improved availability of water resources in the current rabi season is also propelling the shift, they said.Register to read

Launch pipeline sets Biocon up for accelerated growth, says Group CEO

Biocon Ltd. is poised to see an accelerated growth momentum in the coming quarters as its biosimilars and generics businesses are geared up for high-value drug launches in fast-growing therapy areas, at a time when global levers for the research services division are aligning in its favour, according to its Group Chief Executive Officer Peter Bains. This growth, expected to be driven by new launches, could also mean expansion in profitability of the company.Register to read

Festive break, prior borrowings drag Oct corporate bond fundraising 36%

Fundraising through private placements of corporate bonds in October took a significant hit, as major issuers opted to hold off during the festive season and had already secured funding earlier in the year. This led to a drop of over 36% in bond issuances from a month ago.Register to read

Oct CPI print extinguishes Dec rate cut hopes, lowers Feb cut chances

The first 6%-plus CPI inflation number since August 2023 has not only wiped out expectations of the Reserve Bank of India cutting interest rates in December but has also raised questions about whether they will be lowered in what remains of 2024-25 (Apr-Mar).Register to read