Mumbai, February 26 (Commodities Control) - The Indian soybean market is witnessing a substantial surge in arrivals as plant rates rise amidst a downturn in oil prices.
Total soybean arrivals across the nation have soared to 315,000 bags, with Madhya Pradesh, the primary soybean-producing state, contributing 135,000 bags. Maharashtra reported a noteworthy arrival of 150,000 bags, while Rajasthan contributed 15,000 bags. The remaining states collectively accounted for an additional 15,000 bags in cumulative arrivals.
The fluctuating landscape of soybean prices in various mandis reflects regional dynamics. In Madhya Pradesh, soybean prices ranged from Rs 4,450 to Rs 4,650 per quintal. Maharashtra observed price fluctuations, hovering between Rs 4,450 and Rs 4,600 per quintal, while Rajasthan reported prices ranging from Rs 4,425 to Rs 4,575 per quintal.
Meanwhile, soybean plant prices have exhibited variability across different regions. In Madhya Pradesh, plant prices ranged from Rs 4,650 to Rs 4,750 per quintal. Maharashtra witnessed fluctuations, with plant prices oscillating between Rs 4,750 and Rs 4,825 per quintal. Rajasthan reported plant prices in the range of Rs 4,650 to Rs 4,700 per quintal
The increase in soybean arrivals correlates with the recent decline in oil prices, influencing market dynamics and prompting adjustments in both arrival and pricing trends.
(By Commoditiescontrol Bureau: +91-98201 30172)
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