Mumbai, April 26 (Commodities Control) - The Indian soybean market is witnessing a notable decline in arrivals, a trend attributed to the recent downturn in oil prices.
Total soybean arrivals across the nation have dwindled to 220,000 bags, with Madhya Pradesh, the country's primary soybean producer, contributing 85,000 bags. Maharashtra followed closely with 110,000 bags, while Rajasthan reported 13,000 bags. Other states collectively accounted for an additional 12,000 bags in cumulative arrivals.
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he fluctuation in soybean prices across various mandis mirrors regional dynamics. In Madhya Pradesh, soybean prices oscillated between Rs 4,450 to Rs 4,650 per quintal. Maharashtra observed similar price fluctuations, ranging from Rs 4,400 to Rs 4,550 per quintal, while Rajasthan reported prices between Rs 4,450 and Rs 4,575 per quintal
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Soybean plant prices also experienced variability, with Madhya Pradesh reporting prices ranging from Rs 4,675 to Rs 4,750 per quintal. Maharashtra and Rajasthan displayed similar fluctuations, with plant prices hovering between Rs 4,675 and Rs 4,750 per quintal in both regions.
Industry analysts attribute the decline in soybean arrivals to the downward trend in oil prices, which has impacted market dynamics and influenced farmer decisions. The situation underscores the interconnectedness of agricultural commodities with global economic factors, highlighting the need for stakeholders to monitor and adapt to evolving market conditions.
*(By Commoditiescontrol Bureau: +91-98201 30172)*
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