New Delhi. Two subordinate agencies of the Central Government - National Cooperative Agricultural Marketing Federation of India (NAFED) and National Cooperative Consumer Federation (NCCF) have a record stock of about 20 lakh tonnes of soybean, which has been purchased from farmers at the rate of Rs 4892 per quintal in the 2024-25 season. There is a talk in the market that both the agencies are preparing to start selling their stock. By the way, two leading organizations - Solvent Extractors Association of India (C) and Soybean Processors Association of India (SOPA) are repeatedly urging the government to postpone the sale of soybean at least till the end of June.

During the week of April 12-18, the plant delivery price of soybean fell by Rs 150 per quintal in Madhya Pradesh, Rs 180 per quintal in Maharashtra and Rs 150 per quintal in Rajasthan. The market softened due to sluggish buying by millers.

On an average, 2 lakh quintals of soybean are arriving in the mandis across the country every day. If the government stock is unloaded in the domestic market, the price of soybean may fall further. The government will also be forced to unload its stock at a price much below the purchase price.

The price of soya refined oil also witnessed a decline of 10 to 25 rupees per 10 kg. Due to the arrival of new soybean crop in Brazil and Argentina, the price of soya oil has stabilized to a great extent and its import in India is increasing. During the week under review, the price of soyabean oil softened by 10 rupees in Kota, 20 rupees in Mumbai and 5 rupees in Kandla.

The export demand of soya meal is expected to increase due to the decrease in its export offer price. Data from 'C' shows that during the financial year 2024-25, the country exported 21.28 lakh tonnes of soymeal, which was slightly less than the shipment of 21.33 lakh tonnes in 2023-24.