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Soyabean stocks in India stood at 48.35 lakh tonnes as of May 1, 2025, a decline from 55.41 lakh tonnes a year ago, according to SOPA. Market prices continue to remain below the MSP of Rs 4,892 per quintal due to subdued demand. Government agencies procured nearly 20 lakh tonnes, but prices in Madhya Pradesh mandis ranged between Rs 3,900–4,560. Crushing remained stable at 9.5 lakh tonnes in April, while soyameal production held steady at 7.5 lakh tonnes. Meal exports rose slightly to 2.14 lakh tonnes, led by Germany and France. Despite higher global prices, Indian soyameal finds buyers in over 68 countries for its non-GMO status.

Key Highlights

# Soyabean stocks drop to 48.35 lakh tonnes as of May 1.

# Prices remain below MSP across major mandis amid weak demand.

# Government procures nearly 20 lakh tonnes under price support scheme.

# Soyabean crushing, meal production steady; exports slightly up.

# Germany, France top buyers of Indian non-GMO soyameal.

Soyabean stocks in India stood at 48.35 lakh tonnes as of May 1, 2025, reflecting a year-on-year decline from 55.41 lakh tonnes, according to the Soyabean Processors Association of India (SOPA). Of this, 29.66 lakh tonnes are held by farmers and trade, while 18.69 lakh tonnes are with government agencies such as NAFED and NCCF.

Soyabean prices continue to stay below the minimum support price (MSP) of ?4,892 per quintal, impacted by sluggish demand. In Madhya Pradesh, a major producing state, the modal mandi prices ranged between ?3,900 and ?4,560 per quintal, as per Agmarknet data. The government had procured 19.96 lakh tonnes under the price support scheme during the 2024 kharif season against a sanctioned 33.90 lakh tonnes.

April saw steady crushing activity with 9.5 lakh tonnes processed, unchanged from last year. Soyameal production too remained flat at 7.5 lakh tonnes. While domestic demand from the feed sector dipped slightly to 4.5 lakh tonnes, exports were marginally higher at 2.14 lakh tonnes compared to 1.76 lakh tonnes last April. Meal stocks at the start of May were estimated at 1.36 lakh tonnes.

On the export front, Indian soyameal, known for being non-genetically modified, found major buyers in Europe. Germany led with over 2.12 lakh tonnes, followed by France with 1.61 lakh tonnes. Nepal, Bangladesh, and the Netherlands were also significant importers.

Despite higher prices compared to global competitors like the US and Argentina, Indian soyameal continues to enjoy demand in over 68 countries, driven by its non-GMO appeal.

Finally

Despite lower stocks and steady production, soyabean prices remain under pressure, with global demand for Indian non-GMO soyameal offering some export-led support.

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