Weekly Review- Soybean
31-May-2025 08:42 PM
Mixed trend in soybean prices according to demand and supply
New Delhi. Due to different trading in refined oil and oil mills, the plant delivery price of soybean registered a rise and a decline in some places during the week of 24-30 May. Due to soybean sowing season, farmers have to take out their stock but the demand is not strong accordingly. Heavy import of soybean oil from abroad continues.
Plant Price
In all the three top producing states - Madhya Pradesh, Maharashtra and Rajasthan, the plant delivery price of soybean fluctuated by Rs 50-100 per quintal. But the highest price was also much below the government support price. Government agency - NAFED has a record stock of soybean which was purchased from farmers during the Kharif marketing season of 2024-25 at a minimum support price (MSP) of Rs 4892 per quintal. The agency is getting restless to sell its stock. Possibly its sale may start from the end of June. The government has increased the MSP of soybean by Rs 436 to Rs 5328 per quintal for the 2025-26 season.
Soya Oil (Refined)
Due to softening of soybean prices, the prices of soya refined oil fell by Rs 25 to Rs 35 per 10 kg. Many plants in Dewas, Mandsaur and Pithampur as well as Maharashtra had to sell their refined oil by reducing the prices. The price of soybean oil fell by Rs 45 in Kota and Rs 45 in Kandla to Rs 1230 and Rs 1190 per 10 kg respectively. Similarly, its price fell by Rs 50 to Rs 1200 in Mumbai and by Rs 30 in Haldia to Rs 1200 per 10 kg.
Arrival
The arrival of soybean in the markets of major production states was 1.40 lakh bags on 29 May, which increased to 3.40 lakh bags on 30 May. Each bag of soybean is of 100 kg.
Soya Cake (DOC)
Due to better domestic and export demand in soya DOC, its prices have increased significantly. In one or two plants of Madhya Pradesh, an increase of Rs 1000-1100 per ton was recorded. Similarly, in a plant in Rajasthan, the price increased by Rs 1500 to Rs 32,200 per ton. In the global market, the prices of soybean and its products have remained stable to a large extent. Crop harvesting is going on in Argentina and sowing in America. The crop has already been harvested in Brazil.