Soybean and Soybean Meal Update – Marketing Year 2024-25 (October to April): SOPA
16-May-2025 02:53 PM
Soybean and Soybean Meal Update – Marketing Year 2024-25 (October to April): SOPA
Soybean: Production and Utilization Overview
★ In the 2024-25 season, total soybean production has reached 125.82 lakh tons so far, higher than last year’s 118.74 lakh tons. However, the total availability for crushing (including opening stock, production, imports, and after retaining seed) has declined to 122.76 lakh tons, compared to 136.06 lakh tons in the previous year.
★ The key reason behind the lower availability is the sharp drop in opening stock, which stood at just around 9 lakh tons at the beginning of the season — significantly lower than last season’s 24 lakh tons.
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From October 2024 to April 2025:
★ Soybean arrivals were recorded at 77.50 lakh tons (82 lakh tons last year), crushing stood at 70 lakh tons (77 lakh tons last year), and direct use was 3.35 lakh tons (3.10 lakh tons last year).
★ As of May 1, 2025, the stock held by farmers, traders, and processors stood at 29.66 lakh tons, down sharply from 55.41 lakh tons a year ago.
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Soybean Meal: Production, Consumption, and Export
★ Soybean meal production during the same period was 55.24 lakh tons, lower than last year’s 60.76 lakh tons.
★ Exports via sea and land routes were 13.26 lakh tons (15.23 lakh tons last year).
★ Domestic consumption remained flat for food use at 4.95 lakh tons, while feed consumption dropped to 37 lakh tons from 40 lakh tons.
★ As of May 1, 2025, the balance stock of soybean meal was 1.36 lakh tons, compared to 1.99 lakh tons last year.
★ While soybean production has increased in 2024-25, reduced opening stock and lower imports have led to a decline in total availability. Alongside this, a fall in crushing and exports, and a sharp drop in ending stocks, suggest that the demand for soybean meal has been adversely impacted — likely due to increased substitution by DDGS (Distillers Dried Grains with Solubles) in the feed sector.