Weekly Review-Soybean
24-May-2025 08:11 PM
Slowdown in prices due to sluggish demand from millers-processors
New Delhi. The time for sowing soybean is very near, due to which farmers are showing interest in bringing their stock to the markets. This time also good monsoon rains are expected.
Last year, domestic production of soybean was better, due to which farmers still have a good stock of it. Due to huge import of soybean oil from abroad and weak performance of soymeal exports from the country, there is pressure on the wholesale market price of soybean.
Plant Price
During the week of 17 to 23 May, the plant delivery price of soybean in Madhya Pradesh and Maharashtra remained soft by Rs 25-50 per quintal, while it increased in Rajasthan (Kota).
Soy Oil (Refined)
Soy refined oil prices fluctuated by Rs 5-10 per 10 kg because there was lack of demand for it. Its price fell by Rs 5 to Rs 1275 per 10 kg in Kota, Rs 10 to Rs 1230 in Haldia and Rs 15 to Rs 1220 per 10 kg in Kandla, while it remained at the old level of Rs 1250 per 10 kg in Mumbai.
Arrival
The arrival of soybean in the domestic markets was 2.40 lakh bags on May 21, which came down to 1.90 lakh bags on May 22, but increased to 2.60 lakh bags on May 23. Each bag of soybean is of 100 kg or 1 quintal.
Record stock
Government agency- NAFED has a record stock of soybean which was purchased from farmers in the Kharif marketing season of 2024-25 at the minimum support price of Rs 4892 per quintal. The agency wants to sell this stock in the open market but is not getting permission for this. When this stock reaches the market, the pressure on soybean prices may increase further.
Soya Cake (DOC)
During the week under review, the business of soya DOC remained sluggish, due to which its price softened in Maharashtra. Its average export price improved to $ 378 per tonne in April, but now it has come down a bit. Domestic demand is also not very strong.