Mumbai, May 11 (Commodities Control) - India's soybean market is witnessing a notable surge in arrivals, attributed to a decline in plant rates across the country
Total soybean arrivals have surpassed the 100,000-bag mark, with Madhya Pradesh, the leading soybean producer, contributing 40,000 bags. Maharashtra reported a substantial arrival of 50,000 bags, while Rajasthan recorded 5,000 bags. The remaining states collectively accounted for an additional 5,000 bags in cumulative arrivals.
Market observers noted significant price variations across different regions. In Madhya Pradesh, soybean prices ranged from Rs 4,550 to Rs 4,625 per quintal. Maharashtra witnessed fluctuations, with prices hovering between Rs 4,450 and Rs 4,650 per quintal, while Rajasthan reported prices ranging from Rs 4,550 to Rs 4,650 per quintal.
The decline in plant rates further influenced market dynamics. In Madhya Pradesh, plant prices were recorded in the range of Rs 4750 to Rs 4,850 per quintal. Maharashtra observed variability, with plant prices fluctuating between Rs 4,725 and Rs 4825 per quintal. Meanwhile, Rajasthan reported plant prices ranging from Rs 4,750 to Rs 4,800 per quintal.
Industry experts are closely monitoring the situation, anticipating continued market adjustments as the relationship between soybean arrivals and plant rates evolves.
*(By Commoditiescontrol Bureau: +91-98201 30172)*
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