Weekly Review – Soybean
09-May-2026 07:48 PM
Soybean Prices Surge Amidst Robust Buying by Processing Plants
New Delhi: A climate of sharp strength and firmness is currently being observed in the prices of soybean—along with other major oilseeds—as price levels rise due to a positive impact on the domestic market. This trend is driven by firming rates for edible oils and oil meals in the global market, coupled with an increase in import costs.
Plant Prices
Driven by vigorous buying activity from crushing and processing units, the plant delivery prices for soybean in the top three producing states—Madhya Pradesh, Maharashtra, and Rajasthan—recorded a surge of up to ₹300 per quintal during the week of May 2–8. Soybean prices had already risen significantly above the government's Minimum Support Price (MSP) of ₹5,328 per quintal; however, they have now witnessed a further escalation. For a couple of units in Madhya Pradesh, prices touched a high of ₹6,500–₹6,600 per quintal. In Maharashtra, prices peaked at ₹7,000 per quintal, while in Rajasthan, they reached ₹7,100 per quintal. Meanwhile, the arrival of soybean in the *mandis* (wholesale markets) remains limited.
Soy Oil (Refined)
Surprisingly, despite the sharp surge in soybean prices, the rates for refined soy oil remained soft. A decline of up to ₹2.50 per kilogram was recorded in this segment. Apart from the crushing and processing mills, the price of refined soy oil in Kota and Kandla dropped by ₹30 each, settling at ₹1,500 and ₹1,460 per 10 kilograms, respectively. Similarly, in Mumbai, prices fell by ₹20 to ₹1,460 per 10 kilograms, while in Haldia, they slipped by ₹15 to reach ₹1,460 per 10 kilograms.
Arrivals
In the domestic wholesale markets, soybean arrivals stood at 80,000 bags on May 2, and 135,000 bags (each weighing 100 kg) on May 4.
Soybean Meal (DOC)
In contrast to refined soybean oil, prices for soybean DOC recorded an increase of up to ₹4,000 per tonne. Domestic demand for the commodity remained steady. Following a prolonged upward trend in the international market, soybean oil prices witnessed a slight decline, the impact of which led to a softening in the domestic market as well.