Soybean arrivals in MP up 1.3 mt

Indore, Aug 29 | Updated: Aug 30 2006, 05:30am hrs
Around 4.2 million tonne soybean arrived in the main wholesale markets of Madhya Pradesh between September and July, up 1.3 mt on year, according to data released by Soybean Processors Association of India on Tuesday. Arrivals were up because of increase in crop output, industry players said.

Traders and industry sources said higher arrivals in markets clearly show that actual soybean output in the state was more than earlier industry estimate of 3.3-3.4 mt. SOPA had estimated soy production in the state to be around 3.4 mt in the crop year ending August. Another industry association had estimated at 3.3 mt.

Crisil MarketWire