Mumbai, May 03 (Commodities Control) - India's soybean market is grappling with a notable decline in arrivals, attributed to a surge in plant rates.
Total soybean arrivals nationwide have reached 230,000 bags, with Madhya Pradesh, the leading soybean producer, contributing 100,000 bags. Maharashtra reported a substantial arrival of 110,000 bags, while Rajasthan reported 10,000 bags. The remaining states collectively accounted for an additional 10,000 bags in cumulative arrivals.
Variations in soybean prices have been observed across various mandis, reflecting regional dynamics. In Madhya Pradesh, prices ranged from Rs 4,400 to Rs 4,600 per quintal. Maharashtra saw fluctuations between Rs 4,400 and Rs 4,600 per quintal, while Rajasthan reported prices ranging from Rs 4,400 to Rs 4,600 per quintal.
Meanwhile, soybean plant prices have also exhibited variability. In Madhya Pradesh, prices ranged from Rs 4,650 to Rs 4,750 per quintal, while Maharashtra and Rajasthan saw fluctuations between Rs 4,650 and Rs 4750 per quintal, and Rs 4,675 to Rs 4,725 per quintal, respectively.
This development underscores the intricate interplay between plant rates and market dynamics, shaping the trajectory of India's soybean industry.
*(By Commoditiescontrol Bureau: +91-98201 30172)*
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