Mumbai, April 19 (Commodities Control) - The Indian soybean market has witnessed a significant increase in arrivals, driven by a decline in oil prices.
Total soybean arrivals across the country have reached 225,000 bags, with Madhya Pradesh, the leading soybean producer, contributing 90,000 bags. Maharashtra reported a substantial arrival of 110,000 bags, while Rajasthan contributed 13,000 bags. The remaining states collectively accounted for an additional 12,000 bags in cumulative arrivals.
Prices in various mandis have shown variations, reflecting regional dynamics. In Madhya Pradesh, soybean prices ranged from Rs 4,550 to Rs 4,650 per quintal. Maharashtra observed price fluctuations, with prices ranging from Rs 4,500 to Rs 4,650 per quintal, while Rajasthan reported prices ranging from Rs 4,650 to Rs 4,700 per quintal.
Soybean plant prices also varied across regions. In Madhya Pradesh, prices were in the range of Rs 4,725 to Rs 4,820 per quintal. Maharashtra saw prices fluctuating between Rs 4,700 and Rs 4,800 per quintal, while in Rajasthan, plant prices were recorded in the range of Rs 4,725 to Rs 4,775 per quintal.
The surge in soybean arrivals is attributed to the decline in oil prices, which has influenced market dynamics across the country.
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