Mumbai, March 28 (Commodities Control) - The Indian soybean market is experiencing a notable stability in arrivals, attributed to the decline in oil rates.
Total soybean arrivals across the country have reached 200,000 bags, with Madhya Pradesh, the leading soybean producer, contributing 75,000 bags. Maharashtra reported a substantial arrival of 100,000 bags, while Rajasthan reported 13,000 bags. The remaining states collectively accounted for an additional 12,000 bags in cumulative arrivals.
Various mandis across the country have witnessed variations in soybean prices, reflecting regional dynamics. In Madhya Pradesh, soybean prices ranged from Rs 4,400 to Rs 4,575 per quintal. Maharashtra observed price fluctuations, hovering between Rs 4,300 and Rs 4,550 per quintal, while Rajasthan reported prices ranging from Rs 4,450 to Rs 4,550 per quintal.
Regarding soybean plant prices, Madhya Pradesh reported prices in the range of Rs 4,550 to Rs 4,650 per quintal. In Maharashtra, plant prices displayed variability, fluctuating between Rs 4,550 and Rs 4,650 per quintal. In Rajasthan, plant prices were recorded in the range of Rs 4,550 to Rs 4,600 per quintal.
The stability in soybean arrivals comes amidst a broader context of declining oil rates, which could impact the soybean market in the near future. Industry experts are closely monitoring these developments to gauge their potential impact on the market.
(By Commoditiescontrol Bureau: +91-98201 30172)
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