Soybean and peanut prices may rise in January

12-Dec-2025 08:51 PM

Mumbai. Given the evolving national and international situation, it appears that domestic soybean and peanut prices may rise next month. While global soybean and sunflower oil prices haven't seen a significant increase, and the increase in outstanding palm oil stocks in Malaysia to over 2.8 million tons is expected to put pressure on benchmark futures prices.

However, the Indian rupee's decline to its lowest level against the US dollar has made imports of soybean and sunflower oil increasingly expensive for Indian refiners.

Consequently, refiners have canceled import contracts for 70,000 tons of soybean oil for shipment in December and January and are hesitant to enter into sunflower oil import contracts.

Decreased sunflower oil imports and increased costs are expected to increase dependence on peanut oil, leading to a sharp increase in peanut demand at crushing plants.

Trade analysts say it wouldn't be surprising if domestic market prices for soybeans and peanuts rise by an average of ₹500 per quintal by January 2026.

Soybean harvesting is nearly complete, but wholesale market prices are well below the government support price. Peanut harvesting is still underway, but prices are also significantly lower in most markets.

Government procurement of soybeans in Maharashtra and peanuts in Gujarat is underway in significant quantities, which have already been approved by the Union Agriculture Ministry.