Soybean & Soybean Meal: Supply–Demand Situation (Oil Year 2025–26)
17-Dec-2025 02:34 PM
Soybean & Soybean Meal: Supply–Demand Situation (Oil Year 2025–26)
SOPA December 2025 Report
★ In oil year 2025–26, soybean production is estimated at 105.36 lakh tonnes, lower than 125.82 lakh tonnes in 2024–25. This reflects a year-on-year decline of about 20.5 lakh tonnes.
★ Carry-over stock from the previous year has also declined to 4.66 lakh tonnes, compared with 8.94 lakh tonnes in 2024–25. Imports in 2025–26 are estimated to rise to 6.00 lakh tonnes, against negligible imports of around 0.02 lakh tonnes last year.
★ Total soybean availability in 2025–26 is estimated at 116.02 lakh tonnes, down from 134.78 lakh tonnes in 2024–25. Crushing is projected at 97.00 lakh tonnes, lower than 113.50 lakh tonnes in the previous year. Carry-forward stocks at the end of the season are expected to fall to 2.02 lakh tonnes, compared with 4.66 lakh tonnes last year.
★ For soybean meal, production in 2025–26 is estimated at 76.54 lakh tonnes, compared with 89.56 lakh tonnes in 2024–25. Total availability has also declined to 77.22 lakh tonnes from 90.91 lakh tonnes last year.
★ On the export front, soybean meal exports are projected to drop sharply to 8.00 lakh tonnes in 2025–26, against 20.23 lakh tonnes in the previous year. Domestic consumption (food and feed combined) is expected to remain broadly stable.
★ Overall, in 2025–26, soybean and soybean meal production, availability and stock levels are weaker compared with last year, indicating continued supply-side tightness in the market.