Mumbai, April 29(Commodities Control)* - The Indian soybean market is witnessing a notable uptick in arrivals, attributed to the recent decline in oil prices.
Total soybean arrivals across the nation have surged to 215,000 bags, with Madhya Pradesh, the foremost soybean producer in India, leading the charge with 85,000 bags. Maharashtra follows closely with a substantial arrival of 100,000 bags, while Rajasthan reported 15,000 bags. The remaining states collectively contributed an additional 15,000 bags to the cumulative arrivals.
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The fluctuating landscape of soybean prices across various mandis reflects regional dynamics. In Madhya Pradesh, soybean prices ranged from Rs 4,450 to Rs 4,650 per quintal. Maharashtra observed price variations, oscillating between Rs 4,400 and Rs 4,550 per quintal, whereas Rajasthan reported prices ranging from Rs 4,450 to Rs 4,575 per quintal.
Examining soybean plant prices, Madhya Pradesh reported prices in the range of Rs 4,675 to Rs 4,775 per quintal. Maharashtra exhibited similar variability, with plant prices fluctuating between Rs 4,675 and Rs 4,750 per quintal. Meanwhile, Rajasthan reported plant prices in the range of Rs 4,700 to Rs 4,750 per quintal.
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The surge in soybean arrivals amidst the backdrop of declining oil prices underscores the intricate interplay between commodities markets and broader economic trends, as market participants navigate evolving supply and demand dynamics.
*(By Commoditiescontrol Bureau: +91-98201 30172)*
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