Weekly Review: Soybean
04-Apr-2026 06:58 PM
Soybean Prices Rise Amid Strong Buying by Crushing Mills
New Delhi: A decline in soybean oil imports from abroad during March—coupled with strong interest shown by refiners in purchasing domestically produced oil—has led to an increase in the demand and consumption of soybeans within crushing and processing units. Consequently, during the week spanning March 28 to April 3, the 'plant delivery' price of this key oilseed witnessed an increase of up to ₹200 per quintal across major producing states such as Madhya Pradesh, Maharashtra, and Rajasthan.
Plant Delivery
In all three states, the plant delivery price for soybeans is currently trading above the government-mandated Minimum Support Price (MSP) of ₹5,328 per quintal. If this trend of rising and firm prices continues, farmers may be encouraged to expand the area under soybean cultivation during the upcoming Kharif season. The sowing process is scheduled to commence in June-July.
Soybean Oil
Prices for refined soybean oil also generally recorded an increase of ₹3 to ₹6 per kilogram. This provided significant relief to millers and refiners. Soybean oil prices improved by ₹15 in Kandla to reach ₹1,550 per 10 kg; by ₹20 in Kota to reach ₹1,570; rose by ₹35 in Haldia to range between ₹1,545 and ₹1,550; and surged by ₹80 in Mumbai to reach ₹1,580 per 10 kg. In the international market, reduced buying activity at higher price levels led to some softness in the prices of Soy Degummed and High Seas cargoes; however, when denominated in US dollars, prices edged slightly higher to reach $1,549 per tonne.
Soy DOC
In Maharashtra, trading in Soy DOC (De-oiled Cake) remained moderate, yet prices witnessed an increase ranging from ₹500 to ₹1,000 per tonne. Meanwhile, the arrival of fresh soybean stocks in the market continues to decline.