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Indian Soybean Arrivals Down Amidst Decline in Oil Prices

18 Apr 2024 1:08 pm
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Mumbai, April 18 (Commodities Control) - The Indian soybean market is currently experiencing a notable decline in arrivals, a trend attributed to the downward movement of oil prices.

Total soybean arrivals across the country have reached 210,000 bags, with Madhya Pradesh, the leading soybean producer in the country, contributing 85,000 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 4,550 to Rs 4,650 per quintal. Maharashtra observed price fluctuations, hovering between Rs 4,500 and Rs 4,650 per quintal, while Rajasthan reported prices ranging from Rs 4,650 to Rs 4,700 per quintal.

Turning our attention to soybean plant prices, Madhya Pradesh reported prices in the range of Rs 4,700 to Rs 4,775 per quintal. In Maharashtra, plant prices displayed variability, fluctuating between Rs 4,650 and Rs 4,750 per quintal. In Rajasthan, plant prices were recorded in the range of Rs 4,700 to Rs 4,750 per quintal.

The decline in soybean arrivals comes amidst a broader context of fluctuating oil prices, which continue to impact agricultural markets worldwide

(By Commoditiescontrol Bureau: +91-98201 30172)

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