Soybean market rate today in Madhya Pradesh ( 29 October, 2024)

Soybean production and pricing play a crucial role in India's agricultural industry. Madhya Pradesh is a significant producer of soybeans, which contributes to the price fluctuations in its mandis. This article provides an analysis of soybean prices in various mandis of Madhya Pradesh as of 29 October 2024.

Soybean prices in Dhar mandi:

On 29 October, the arrival of soybeans in Dhar Mandi was recorded at 8.6 tons. The minimum price was ₹4,100 per quintal, while the maximum price was ₹4,150 per quintal, with an average (model) price of ₹4,150 per quintal. Although these prices were below the government-mandated Minimum Support Price (MSP) of ₹4,892, Dhar mandi exhibited a degree of price stability.

Soybean price in Khirkiya mandi:

Khirkiya Mandi reported a total soybean arrival of 37.7 tons on 29 October. Here, the minimum price stood at ₹4,460 per quintal, and the maximum price reached ₹4,550 per quintal, with an average price of ₹4,550 per quintal. The higher prices in Khirkiya provided some satisfaction to farmers.

Soybean price in Sailana mandi: Sailana Mandi, 11.77 tons of soybeans arrived on 29 October. The minimum price was ₹4,365 per quintal, while the maximum price reached ₹4,410 per quintal, with an average (model) price recorded at ₹4,410 per quintal.

Conclusion: On 29 October 2024, soybean prices across Madhya Pradesh's mandis were below the MSP. Prices were lowest in Dhar Mandi, while Khirkiya recorded the highest rates. Sailana mandi exhibited price stability. Despite higher arrivals in Khirkiya, the high prices there reflect strong demand in the region.

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