New Delhi. Due to the demand of crushers-processors at lower prices, the price of soybean in the markets of Madhya Pradesh and Maharashtra remained high by 50-100 rupees per quintal during the week of May 31-June 6, while in a plant in Sangli it jumped by 325 rupees to Rs 4775 per quintal. Government agency- NAFED has started releasing soybean from its stock in the market. On the other hand, sporadic sowing of this important oilseed has also started in some places. There is news of normal arrival of soybean in the markets.

The interesting fact is that despite the rise in the price of soybean, the prices of soy refined oil recorded a huge decline of 25-35 rupees per 10 kg in Madhya Pradesh and 20-40 rupees per 10 kg in Maharashtra. During the week under review, the price of soya refined oil declined by Rs 20 each in Kota and Kandla, Rs 30 in Mumbai and Rs 40 per 10 kg in Haldia.

Its price fell below Rs 1200 per 10 kg in all centers. Last month, the government had reduced the basic import duty on crude grade palm oil, soybean oil and sunflower oil from 20 percent to 10 percent.

On June 3, 2.10 lakh bags of soybean arrived in the markets of major producing states, which fell to 2.00 lakh bags on June 6. Each bag of soybean weighs 100 kg.

Domestic and export demand in soya DOC was better and with normal trading, its price improved by Rs 500 to Rs 1500 per ton. This gave some relief to the millers. The minimum support price of soybean has been increased by Rs 436 from Rs 4892 per quintal for the 2024-25 season to Rs 5328 per quintal for the 2025-26 season.