Weekly Review - Soybean
17-May-2025 08:13 PM
Soybean prices fall by 50-100 rupees due to weak demand from plants
New Delhi. Due to continued import of cheap soybean oil from abroad and weak domestic demand for soy oil and soymeal, crushing-processing units are showing less interest in buying soybean.
NAFED has stock
NAFED has a huge stock of soybean, so there is no possibility of supply to the plants and they are buying it only in limited quantity to meet immediate needs. During the week of 10-16 May, the plant delivery price of soybean fell by 50-100 rupees per quintal in Madhya Pradesh and Maharashtra and 25 rupees per quintal in Rajasthan.
Plant Price
Demand for soy refined oil also remained weak, due to which the delivery price of most of the plants in Madhya Pradesh and Maharashtra fell by 50-100 rupees per quintal in Madhya Pradesh and Maharashtra and 25 rupees per quintal in Rajasthan.
Soya Oil (Refined)
Demand for soya refined oil also remained weak due to which its price fell by 15 to 40 rupees per 10 kg in most plants of Madhya Pradesh and Maharashtra. In a unit in Mandsaur, it fell by 45 rupees to 1215 rupees per 10 kg. A plant in Dhule, Maharashtra also reduced the price by 40 rupees. The price of soya refined oil in Kota fell by 15 rupees to 1270 rupees per 10 kg and in Kandla it fell by 20 rupees to 1275 rupees per 10 kg, while it remained stable at the old level of 1250 rupees in Mumbai and 1240 rupees in Haldia.
Arrival
On May 13, 2.50 lakh bags of soyabean arrived in the domestic markets and on May 14, 2.40 lakh bags of soyabean arrived, while each bag is of 100 kg. In fact, NAFED is anxious to release soybean from its stock in the domestic market but it is not getting government approval.
Sowing
Soybean sowing is going to start from next month and the Agriculture Ministry fears that the pressure on prices may increase further when the government stock is released, while the price is already running much below the minimum support price. If the prices fall further, the enthusiasm and attraction of farmers towards soybean cultivation may decrease.
Soy DOC
During the week under review, domestic and export demand for soybean DOC remained weak, due to which its price fell sharply. Soy data shows that in the seven months from October 2024 to April 2025, the consumption of soymeal in animal feed manufacturing decreased and its exports also declined somewhat. The minimum support price of soybean has been fixed at Rs 4892 per quintal this time, while it is yet to be announced for the next season.