51.50 lakh tonnes of soybean crushed till February 2025

11-Mar-2025 05:51 PM

According to data from the Soybean Processors Association of India (SOPA), during the first five months (October 2024 to February 2025) of the 2024-25 marketing season, India received 6.6 million tonnes of soybeans, with 5.15 million tonnes processed.

This is a decrease from the same period in the previous season (2023-24), which saw arrivals of 7 million tonnes and processing of 5.7 million tonnes.

The reduction in soybean arrivals is attributed to market prices falling below the government's Minimum Support Price (MSP), leading to increased procurement by government agencies to support farmers.

As of March 1, 2025, soybean stocks with producers and processors stood at 4.801 million tonnes, down from 7.396 million tonnes on the same date in 2024.

In terms of soybean meal, 4.064 million tonnes were produced during the October 2024 to February 2025 period, with 0.95 million tonnes exported and 3.115 million tonnes consumed domestically.

This left a stock of 0.132 million tonnes at the beginning of March 2025. In comparison, during the same period in the 2023-24 season, 4.498 million tonnes of soybean meal were produced,

with 1.171 million tonnes exported and 3.325 million tonnes consumed domestically, leaving a similar stock of 0.132 million tonnes at the beginning of March 2024.

The lower soybean arrivals and processing volumes in the current season highlight challenges in the domestic soybean market, including price pressures and supply constraints.