Krishi VaartaKrishi Jaagran
Coronavirus Results in prices Decline of Cotton, Basmati and Soybean
New Delhi: Corona virus has spread throughout the world. After China, the virus is spreading to other countries, including Iran, which has hit the agricultural sector. Rice, cotton and soybean prices have fallen by about 10% in the past one month. Since the beginning of February, cotton and cotton yarn prices have declined by 7% in the wholesale market. Basmati rice prices fell by 3% and soybeans prices fell by 5%. At the same time, around 60,000 tonnes of rice is lying on the ports.
Similarly, soybean exports have declined. For the past two months, soybean prices have fallen by 15%. India exports 15-20 lakh tonnes of soybean miles every year. Iran buys up to 25% of it. If conditions do not improve, soybean rates will fall by 5%.
Source: Krishi Jagran, 4 March 2020
Don’t forget to Like and Share this important news if you want to get more updates.