Soybean prices firm as Maharashtra procurement kicks off

15-Nov-2025 12:16 PM

Mumbai. The announcement that soybean procurement from farmers at the Minimum Support Price (MSP) from November 15th had already been made in Maharashtra, and the Chief Minister himself had advised producers not to rush and sell their produce at throwaway prices.

Over the past few days, there have been signs of improvement in soybean prices due to reduced arrivals and strong demand in major markets.

Producers are hopeful that the start of government procurement will further increase the prices of this important oilseed. Government procurement of soybean began in the state on November 15th, 2025.

Trade analysts, farmers, and market committees say that soybean prices have been fluctuating over the past few days as farmers are unloading limited quantities of their produce in various markets in anticipation of the start of government procurement.

It is noteworthy that during October, soybean prices fell sharply by up to Rs 500 per quintal in major markets, including Hinganghat, in Maharashtra.

Soybean producers were already facing difficulties due to crop damage caused by floods and rains, and uncertainty in market demand further compounded their difficulties. They had to slow down the pace of selling their stocks.

But in November, the market began to strengthen. Soybean prices jumped to a peak of ₹4600/₹4650 per quintal in the Jalna market, while the model price (the price at which most trading takes place) also reached high levels in other markets.

In most markets, the model price remained below the government support price. It is worth noting that the central government has increased the minimum support price for soybean by ₹436 from ₹4892 per quintal for the 2024-25 season to ₹5328 per quintal for the 2025-26 season.

In comparison, the market price for soybean reached ₹4000/₹4800 in Amravati, ₹4000/₹4900 in Latur, and ₹4300/₹4700 per quintal in Murtazapur. Prices generally remained above ₹4500.