In a notable development, the Indian soybean market has witnessed a significant decrease in arrivals, primarily attributed to the decline in oil rates. Total soybean arrivals across the country have reached 245,000 bags, with Madhya Pradesh, the leading soybean producer, contributing 100,000 bags. Maharashtra reported a substantial arrival of 125,000 bags, while Rajasthan reported 10,000 bags. The remaining states collectively accounted for an additional 10,000 bags in cumulative arrivals.
The market has seen variations in soybean prices across various mandis, reflecting regional dynamics. In Madhya Pradesh, soybean prices ranged from Rs 4,350 to Rs 4,550 per quintal. Maharashtra observed price fluctuations, hovering between Rs 4,350 and Rs 4,550 per quintal, while Rajasthan reported prices ranging from Rs 4,350 to Rs 4,500 per quintal.
Regarding soybean plant prices, Madhya Pradesh reported prices in the range of Rs 4,525 to Rs 4,650 per quintal. In Maharashtra, plant prices displayed variability, fluctuating between Rs 4,550 and Rs 4,700 per quintal. In Rajasthan, plant prices were recorded in the range of Rs 4,525 to Rs 4,600 per quintal.
The decline in soybean arrivals and the associated price fluctuations underscore the impact of falling oil rates on the Indian soybean market, highlighting the need for continued monitoring of market trends.
(By Commoditiescontrol Bureau: +91-98201 30172)
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