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Indian Soybean Arrivals Surge as Plant Rate Remains Steady

21 May 2024 1:32 pm
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Mumbai, May 21 (Commodities Control) - India's soybean market is witnessing a notable surge in arrivals, fueled by a consistent plant rate across key producing regions.

Total soybean arrivals nationwide have surged to 250,000 bags, with Madhya Pradesh, the primary soybean producer, contributing 100,000 bags. Maharashtra has reported a substantial influx of 125,000 bags, while Rajasthan accounts for 13,000 bags. Other states collectively add 12,000 bags to the cumulative arrivals.



Market dynamics have led to price variations across different mandis. In Madhya Pradesh, soybean prices are in the range of Rs 4,550 to Rs 4,750 per quintal. Maharashtra's prices fluctuate between Rs 4,525 and Rs 4,700 per quintal, while Rajasthan reports prices from Rs 4,600 to Rs 4,700 per quintal.

Plant prices also exhibit variability across regions. Madhya Pradesh's plant prices range from Rs 4,775 to Rs 4,875 per quintal, Maharashtra fluctuates between Rs 4,750 and Rs 4,850 per quintal, and Rajasthan reports prices from Rs 4,750 to Rs 4,800 per quintal.



The steady plant rate amidst increased arrivals suggests a robust outlook for the Indian soybean market, with stakeholders closely monitoring price movements and production trends.
*(By Commoditiescontrol Bureau: +91-98201 30172)*


       
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