India Region

Soybean Price Decline in Madhya Pradesh: District-wise Analysis for October 2024

07 October 2024, New Delhi: In the district-wise wholesale prices weekly analysis for Soybean in Madhya Pradesh during the first week of October 2024, a notable price decline is observed across several districts compared to September 2024 and October 2023. This comes alongside a significant drop in soybean arrival, as the total soybean arrivals in various mandis across Madhya Pradesh stand at 79,997 tonnes, which is 56% lower than last October’s arrival of 1,85,194 tonnes.

Farmers are holding back on selling soybeans in anticipation that the government will soon start purchasing at the Minimum Support Price (MSP). As a result, fewer soybeans are reaching the market, which could affect both price movements and future supply.

Key Price Movements:

  1. Agar Malwa: Prices declined by 4.55% to ₹4200 from September’s ₹4400.
  2. Alirajpur: Saw a minor drop of 0.39%, with prices at ₹4327 in October, down from ₹4344 in September.
  3. Ashoknagar: The sharpest decline among districts, prices dropped by 10.59% to ₹3969 in October from ₹4439 in September.
  4. Bhopal: Witnessed a 6.15% decrease, with prices falling to ₹3891 from September’s ₹4146.
  5. Indore: A decrease of 4.51% was recorded, dropping to ₹4124 in October from ₹4319 in September.

Additionally, districts like Dewas (-7.06%), Ratlam (-7.76%), and Vidisha (-8.23%) also witnessed significant declines. Interestingly, Chhatarpur registered an increase of 1.51% in prices, reaching ₹4230 in October compared to ₹4167 in September.

These price fluctuations reflect the combined effects of lower market arrivals and shifting farmer expectations regarding government interventions.

District wise Wholesale Prices Weekly Analysis for Soyabean in Madhya Pradesh October, 2024 (Prices in Rs/Quintal)

DistrictPrices October, 2024Prices September, 2024Prices October, 2023% Change(Over Previous Month)% Change(Over Previous Year)
Agar Malwa42004400 -4.55__
Alirajpur432743444497-0.39-3.78
Anupur 4000 ____
Ashoknagar396944394251-10.59-6.63
Badwani4334432146250.3-6.29
Betul440644294624-0.52-4.71
Bhopal389141464469-6.15-12.93
Burhanpur4330418843433.39-0.3
Chhatarpur4230416740791.513.7
Chhindwara413844224616-6.42-10.36
Damoh418443084414-2.88-5.21
Dewas404343504283-7.06-5.6
Dhar416643694584-4.65-9.12
Dindori400042404382-5.66-8.72
Guna420143434314-3.27-2.62
Harda416643964292-5.23-2.94
Hoshangabad381541944500-9.04-15.22
Indore412443194396-4.51-6.19
Jabalpur411542714156-3.65-0.99
Jhabua432043714567-1.17-5.41
Katni  3792____
Khandwa412741834338-1.34-4.86
Khargone382841864355-8.55-12.1
Mandsaur420344424437-5.38-5.27
Morena  4630____
Narsinghpur428644504612-3.69-7.07
Neemuch432945594453-5.04-2.78
Panna  4255____
Raisen400343604328-8.19-7.51
Rajgarh411744364316-7.19-4.61
Ratlam414744964467-7.76-7.16
Rewa  4130____
Sagar415344234352-6.1-4.57
Satna 42984167____
Sehore413144204537-6.54-8.95
Seoni  4000____
Shajapur410844154355-6.95-5.67
Shehdol 40004000____
Sheopur 44074312____
Shivpuri430643983720-2.0915.75
Tikamgarh404341434380-2.41-7.69
Ujjain412544644476-7.59-7.84
Umariya4300427045020.7-4.49
Vidisha398143384258-8.23-6.51
Average4147.034325.774346.76  

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