Soybean Market Report – Prices Improve, Further Upside Likely
17-Jan-2026 01:24 PM
Soybean Market Report – Prices Improve, Further Upside Likely
(MSP Kharif 2025: ₹5,328 per quintal)
★ Soybean prices across major mandis and the refined oil market have shown consistent improvement till mid-January. The recent strength is mainly driven by a smaller crop, government procurement and rising import costs.
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Soybean Mandi Price Trend
★ In key markets such as Amravati, Latur, Dewas, Rajkot and Kota, prices have increased by ₹100–230 per quintal on a week-on-week basis. January prices are trading ₹350–600 above December averages and ₹800–1,100 higher compared with November–October levels.
★ Despite this improvement, prices in most mandis are still marginally below the MSP of ₹5,328, leaving room for further upside.
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Soya Refined Oil Market
★ Soya refined oil prices have also strengthened notably.
★ In MP, Maharashtra, Kota, Mumbai and Kandla, refined oil prices rose by ₹40–80 per 10 kg during the week. January prices are ₹40–75 above December averages and ₹40–95 higher than November levels. Rising international soya oil prices have increased import costs, which is supporting the domestic market.
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Imports and Demand Situation
★ Edible oil imports during November–December 2025 stood at around 0.875 million tonnes, almost unchanged from 0.88 million tonnes in the same period last year. Higher global prices have kept import parity elevated.
★ With limited domestic soybean availability, crushing plants are buying aggressively, leading to higher demand and supporting prices.
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Outlook
★ Lower production, government procurement, rising import costs and urgent buying by plants are expected to keep soybean and soya oil prices supported. Since current soybean prices are still below MSP, further improvement cannot be ruled out.
★ Overall, the soy complex in India is likely to remain stable to firm in the near term.