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As per the latest supply-demand estimates by SOPA, soyabean crushing during the month of April was 9.5 lakh tonnes, similar to the corresponding period last year
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SHASHI SHEKHAR KASHYAP
Soyabean stocks in the country were around 48.35 lakh tonnes as of May 1, 2025, lower than 55.41 lakh tonnes during the same period a year ago.
According to the Soyabean Processors Association of India (SOPA), stocks with trade and farmers are estimated at 29.66 lakh tonnes as of May 1. Another 18.69 lakh tonnes are held by the government agencies NAFED (13.19 lakh tonnes) and NCCF (5.5 lakh tonnes), SOPA said.
The government agencies \procured 19.96 lakh tonnes of soyabean under the price support scheme during the kharif 2024 season at the minimum support price (MSP) of Rs 4,892 per quintal against a sanctioned quantity of 33.90 lakh tonnes. Soyabean prices have been ruling below the MSP levels across various mandis during the kharif 2024 marketing season on muted demand. On Friday, the modal price (the rate at which most trades take place) across mandis in Madhya Pradesh ranged between Rs 3900 and Rs 4,560 per quintal, as per the Agmarknet data.
Arrivals up a tad
As per the latest supply-demand estimates by SOPA, soyabean crushing during the month of April was 9.5 lakh tonnes, similar to the corresponding period last year. The market arrivals were marginally up at 5.5 lakh tonnes (5 lakh tonnes in same period last year).
Soyabean meal production stood flat at 7.5 lakh tonnes during April. The exports of soyabean meal were marginally higher at 2.14 lakh tonne (1.76 lakh tonnes), while the domestic demand from the feed sector was a tad lower at 4.5 lakh tonnes (5 lakh tonnes) and food sector was flat at 0.6 lakh tonnes. The meal stocks at the beginning of May were estimated at 1.36 lakh tonnes.
European countries led by Germany and France were the top two buyers of the Indian soyameal, which is a non-genetically modified variety, during the current oil year 2024-25 starting October till April. Germany was the largest buyer with over 2.12 lakh tonnes, followed by France with over 1.61 lakh tonnes.
Nepal was the other large buyer with over 1.37 lakh tonnes, followed by Bangladesh at over 1.24 lakh tonnes and Netherlands at 1.03 lakh tonnes. Indian soyameal, despite being expensive compared to other origins such as the US and Argentina, is exported to over 68 countries worldwide.
Published on May 16, 2025
This article first appeared on The Hindu Business Line
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