Weekly Review - Soybean
01-Nov-2025 07:56 PM
Soybean prices rise in Maharashtra on expectations of government procurement beginning
New Delhi. The Union Agriculture Ministry has authorized the purchase of approximately 18.51 lakh tons of soybean in Maharashtra, and online registration for farmers has begun on October 30th.
Government Procurement
Formal procurement of soybean from farmers in the state will begin on November 15th at the minimum support price of Rs 5328 per quintal, which will remain in place for the next three months. Farmers have been given until December 31, 2025, to register to sell their soybean. Following this announcement, soybean prices rose in Maharashtra.
Bhavantar Yojana
Meanwhile, the Bhavantar Yojana (Bhavantar Yojana) has been implemented in Madhya Pradesh, which farmers and traders are not very enthusiastic about. As a result, soybean prices have softened slightly. A decision regarding government procurement of soybean in Rajasthan is expected soon.
Plant Prices
During the week of October 25-31, the plant delivery price of soybean declined by up to ₹75 per quintal in Madhya Pradesh, while it increased by ₹180 in Maharashtra and ₹75 in Rajasthan. The plant delivery price of soybean in Maharashtra rose to ₹4,700 per quintal.
Soybean Oil (Refined)
However, pressure on refined soybean oil prices persisted. Prices fell by ₹15-₹25 per 10 kg in Madhya Pradesh and ₹10-₹15 per 10 kg in Maharashtra. Soybean oil prices fell by ₹15 to ₹1,270 per 10 kg in Kota, ₹20 to ₹1,250 in Mumbai, ₹5 to ₹1,240 in Bengal, and ₹15 to ₹1,240 per 10 kg in Haldia. The international market also remained somewhat soft.
Arrivals
Mandis in major producing states received 7.40 lakh bags of soybean on October 28th, 8.40 lakh bags on October 29th, and 7.60 lakh bags on October 30th. Each bag weighs 100 kg or 1 quintal. Madhya Pradesh markets are receiving 4-5 lakh bags of soybean daily, while Maharashtra is receiving 2.25-2.50 lakh bags daily. Arrivals are now increasing in other states, including Rajasthan.