Mumbai, May 09 (Commodities Control) - The Indian soybean market is currently witnessing a significant surge in arrivals, attributed to a decline in planting rates.
Total soybean arrivals across the country have reached 215,000 bags, with Madhya Pradesh, the leading soybean producer in the country, contributing 90,000 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.
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Market dynamics are reflecting in the variations in soybean prices across different regions. In Madhya Pradesh, soybean prices ranged from Rs 4,500 to Rs 4,725 per quintal. Maharashtra observed price fluctuations, hovering between Rs 4,450 and Rs 4,625 per quintal, while Rajasthan reported prices ranging from Rs 4,550 to Rs 4,700 per quintal.
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Shifting focus to soybean plant prices, Madhya Pradesh reported prices in the range of Rs 4,750 to Rs 4,850 per quintal. In Maharashtra, plant prices displayed variability, fluctuating between Rs 4,750 and Rs 4,825 per quintal. In Rajasthan, plant prices were recorded in the range of Rs 4,750 to Rs 4,800 per quintal.
The increase in soybean arrivals amidst reduced planting rates underscores the complex dynamics at play in the Indian soybean market, with implications for both producers and consumers alike.
(By Commoditiescontrol Bureau: +91-98201 30172)
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