Mumbai, May 20 (Commodities Control) - The Indian soybean market is witnessing a notable surge in arrivals, attributed to the steadfast plant rates across the country.
Total soybean arrivals have soared to 230,000 bags, with Madhya Pradesh, the frontrunner in soybean production, leading the tally with 120,000 bags. Maharashtra follows closely with 85,000 bags, while Rajasthan accounts for 13,000 bags. Other states collectively contribute 12,000 bags to the cumulative arrivals.
Market dynamics have led to price fluctuations across various mandis. In Madhya Pradesh, soybean prices ranged between Rs 4,550 to Rs 4,725 per quintal. Maharashtra observed similar variability, with prices oscillating between Rs 4,525 and Rs 4,700 per quintal. Meanwhile, Rajasthan reported prices ranging from Rs 4,600 to Rs 4,700 per quintal.
Soybean plant prices also displayed regional disparities. In Madhya Pradesh, prices hovered between Rs 4,775 to Rs 4,875 per quintal, while Maharashtra witnessed fluctuations between Rs 4,750 and Rs 4,850 per quintal. Rajasthan reported plant prices in the range of Rs 4,750 to Rs 4,800 per quintal.
The steady influx of soybean arrivals amidst unchanged plant rates underscores the resilience of India's soybean market, despite regional variations in pricing. Market participants continue to monitor these developments closely for insights into future trends and opportunities.
*(By Commoditiescontrol Bureau: +91-98201 30172)*
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