57.50 tonnes of soybean arrived in domestic markets during four months
14-Feb-2025 08:44 PM
The soybean market in India has experienced a slower pace of arrivals in the domestic markets this season, despite good production numbers. Here’s a breakdown of the current situation based on the information provided:
Soybean Arrivals (October 2024 - January 2025):
- Total arrivals: 57.50 lakh tonnes (compared to 62 lakh tonnes in the same period last year).
- Monthly breakdown:
- October: 18 lakh tonnes
- November: 16 lakh tonnes
- December: 12 lakh tonnes
- January: 11.50 lakh tonnes
- No soybean imports during this period.
Domestic Use and Exports:
- Exports: 6 thousand tonnes during this period.
- Domestic consumption: 1.80 lakh tonnes consumed directly.
- Crushing and Processing: 42 lakh tonnes processed and crushed.
- Total usage: 44.36 lakh tonnes (combining consumption, exports, and processing).
Stocks:
- Remaining with stakeholders: 57.40 lakh tonnes (with farmers, traders, and mills).
- Government Stock: About 20 lakh tonnes purchased by agencies like NAFED and NCCF at the Minimum Support Price (MSP) of Rs 4892 per quintal.
Production and Availability for the Season:
- Estimated production: 125.82 lakh tonnes in 2024-25.
- Starting stock: 8.94 lakh tonnes.
- Imports: Expected to be around 3 lakh tonnes.
- Total availability: Estimated to be 137.76 lakh tonnes.
- Reserves for next sowing: 13 lakh tonnes set aside for future planting.
- Available for consumption and processing: 124.76 lakh tonnes.
This slowdown in arrivals, combined with weak prices, has led to the government having to buy significant quantities of soybean from farmers, ensuring that the market has enough stock, especially with the ongoing processing needs. The government's purchases and subsequent sale of soybean in the coming months are likely aimed at stabilizing the market price and ensuring supply availability.