Weekly Review- Soybean

29-Mar-2025 07:35 PM

Soybean rises due to strong demand for oil and meal

New Delhi. Limited arrival of soybean is happening in major producing states, while crushers-processors are showing good interest in its purchase at lower prices. Strong demand for soybean oil and soybean meal is encouraging millers to buy soybean. Domestic and export demand for soy DOC has improved and its price has also increased.

Plant Price

After a long time, the plant delivery price of soybean in Madhya Pradesh, Maharashtra and Rajasthan rose well during the week of 22-28 March. In Kota, Rajasthan, the price increased by Rs 250-300 to Rs 4400/4750 per quintal. Similarly, in Madhya Pradesh, an increase of Rs 100-200 increased it to Rs 4250/4350 per quintal and in Maharashtra, an increase of Rs 200-250 increased it to a high of Rs 4600 per quintal. The average daily arrival of soybean fell to between 1.10-1.25 lakh bags.

Soya Oil (Refined)

Due to the rise in soybean prices, the price of soya refined oil also improved. In some units of Madhya Pradesh, its price increased by Rs 2.50 to Rs 3.30 per kg. In Maharashtra also, it increased by Rs 2-4 per kg. In most of the mills, the price increased to above Rs 1300 per 10 kg. This clearly indicates better business. In the global market, the price of soya oil remained stable with limited fluctuations. New soybean crop is coming in Brazil and Argentina, while the import of American soybean in China is likely to decrease. America is making efforts to increase the export of soya oil in India.

Soya DOC

Due to good activity of animal feed / poultry feed manufacturers in the purchase of soya DOC, its prices increased significantly. Export demand also remained strong. The off season for soybean supply is going on. The government has a huge stock of it but the process of releasing it in the market has not started yet, so there is not much pressure of supply in the markets. Sowing of soybean will start in June.