Mandi Updates: Soybean Wholesale Prices Rise across Benchmark Markets

The wholesale prices of soybeans rose across the benchmark markets as of April 19, according to the data from the Agmarknet portal run by the Union Ministry of Agriculture and Farmers Welfare. The month-on-month average wholesale prices of soybeans in April increased to Rs 4,793.1 per quintal from Rs 4,648.2. 

Among all the regions, Andhra Pradesh saw the highest increase of 16.6% to around Rs 4,269 per quintal, followed by Gujarat with a 4.24% increase to Rs 4,477. Other states and union territories where the wholesale prices of soybeans increased are Chhattisgarh, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Rajasthan, Telangana, and Uttar Pradesh. 

In Karnataka, the prices increased by almost 3.3% to Rs 4,571 per quintal, and in Uttar Pradesh by 3.8% to Rs 4,474. In Rajasthan and Chhattisgarh, the prices rose by around 2.9% to Rs 4,534 and by 2.5% to Rs 4,223, respectively. However, the wholesale prices of soybeans fell in Uttarakhand by 2.5% to Rs 3,900 per quintal.

Soybean is prominently a kharif crop. It is majorly grown in  Maharashtra, Rajasthan, Karnataka, Telangana, and Madhya Pradesh. Besides India, this crop is cultivated in Brazil, Argentina, China, and the US.

For those interested in exploring the prices of various crops in their respective state markets, the official website agmarknet.gov.in provides a comprehensive list. Understanding the price dynamics of different crops and their quality assessment remains pivotal in navigating market fluctuations for farmers and traders alike.