Soybean arrivals surge at Amravati market, top price reaches Rs 6,551 a quintal
Soybean arrivals rose from nil on October 1 to 15,757 sacks on October 12, while the maximum price climbed Rs 600 over the fortnight.
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Farmers in financial distress because of crop failure are now bringing their soybean to the Amravati market in large quantities. Soybean arrivals were nil on October 1. They reached 9,033 sacks on October 9.
On October 12, arrivals of as many as 15,757 sacks were recorded. On October 13 they eased slightly to 12,024 sacks. The rise in arrivals and the ups and downs in prices between October 1 and 13 have drawn attention.
On Monday, total arrivals of all farm produce at the market were 17,335 sacks, of which 15,757 sacks were soybean. On Tuesday, total arrivals were 13,326 sacks, with soybean arrivals recorded at 12,024 sacks. This suggests that new soybean accounts for a large share of the market.
On prices, new soybean sold at Rs 5,750 to Rs 6,200 per quintal on October 1. On Friday it rose to Rs 6,300 to Rs 6,800. By comparison, the minimum price went up by Rs 550 and the maximum price by Rs 600.
On Monday, the minimum price was Rs 6,100 and the maximum Rs 6,503. On Tuesday the minimum price stayed at Rs 6,100, while the maximum was recorded at Rs 6,551. That means the maximum price on October 13 was Rs 249 lower than the maximum on October 9.
Prices of other farm produce besides soybean also moved up and down. Mill-grade wheat saw its highest arrivals on October 1, at 209 sacks, and fetched Rs 2,600 to Rs 2,700 per quintal that day. On October 3 the maximum price rose to Rs 2,750, while on October 9 arrivals fell to 89 sacks. Gavran gram saw its highest arrivals on October 6, at 748 sacks, and the price that day was Rs 6,800 to Rs 7,400 per quintal. On October 7 the maximum price rose to Rs 7,451, while on Friday gram arrivals fell to 358 sacks. According to the available figures, the maximum price of tur was recorded at Rs 10,701 per quintal.
With prices fluctuating, it is hard for farmers to decide when to sell their produce. Farmers are watching the market in the hope that soybean will fetch a good price. They feel prices must hold even as arrivals rise. They expect the government to put in place an effective system of procurement at the minimum support price and to take firm steps so that farmers do not have to bear financial losses. How much farmers actually gain from the growing flow of arrivals and the swings in rates will depend on coming market prices.
