New Delhi: With reduced imports of soybean oil from abroad, Indian refiners are showing strong interest in purchasing domestic oil, which is providing a good incentive for crushing and processing units to buy soybeans from farmers and traders. As a result, during the week of December 27 - January 2, the plant delivery price of this important oilseed increased by Rs. 90 per quintal in Madhya Pradesh and by Rs. 150 per quintal in Maharashtra and Rajasthan.

During the review period, the plant delivery price of soybeans reached a high of Rs. 4900 per quintal in Madhya Pradesh, Rs. 5120 per quintal in Maharashtra, and Rs. 5325 per quintal in Rajasthan. Thus, the plant delivery price has come quite close to the Minimum Support Price (MSP) of Rs. 5328 per quintal, which it was previously far below.

In Maharashtra and Rajasthan, the government is procuring soybeans from farmers at the Minimum Support Price, while the Bhavantar Bhugtan Yojana (Price Difference Payment Scheme) is in effect in 

However, despite the improvement in soybean prices, the prices of refined soybean oil registered a decline of Rs. 1-2 per kg.

The decline was less pronounced in Madhya Pradesh but more significant in Maharashtra. In Kota, the price slipped by Rs. 5 to Rs. 1280 per 10 kg, and in Mumbai, it fell by Rs. 10 to Rs. 1260 per 10 kg. Prices remained stable at previous levels in Kandla and Haldia. A slight softening was also observed in the global market.

Soybean arrivals are limited in major markets nationwide. During the week under review, daily arrivals were recorded at 2.85 lakh bags on December 29, 2 lakh bags on December 30, 1.70 lakh bags on December 31, and 2.40 lakh bags on January 2.  Each bag of soybeans weighs 100 kg or 1 quintal.

Soybean DOC witnessed good trading activity, and prices improved due to better domestic and export demand. Prices generally rose by ₹500-1000 per ton, but in one unit in Rajasthan, the price surged by ₹4500 to reach ₹36,000 per ton.