Soybean Prices: Why Are Rates Not Rising Yet? Will the Market Strengthen by February–March 2026? Full Analysis Inside

Krishi Dunia

• 01 Dec, 2025 01:40 PM IST ,
• Updated Mon, 01 Dec 2025 07:11 PM

Despite the start of the new soybean marketing season, prices across the country have shown no major upward movement so far. Even after the implementation of the Bhavantar scheme, soybean rates have largely remained stable. Throughout the season, most mandis recorded prices between ₹3,500 and ₹4,500 per quintal.

However, market analysts believe that the coming months may bring some improvement, especially as this year’s soybean output is lower than normal.

Here is a detailed look at why soybean prices haven’t increased, how U.S. trade pressure is affecting the Indian market, and what price trends could look like in the coming months.

Why Are Soybean Prices Not Rising?

Even though edible oil prices have firmed up in recent months, soybean prices have remained stuck in a narrow range.
The primary reason: uncertainty surrounding a possible trade agreement with the United States.

Key Concerns

• The U.S. has been pressuring India to allow imports of GM soybean and other agricultural products.
• If India approves the entry of cheaper American GM soybean, domestic markets could be flooded with low-cost imports.
• Experts warn that this would push down Indian soybean prices sharply, causing heavy losses to farmers.

Major Risk for Farmers

Agricultural experts believe that allowing GM soybean imports could:

• Trigger an immediate drop in domestic soybean prices
• Prevent farmers from getting even minimum profitable rates
• Create a long-term dependency on imports — similar to what China experienced

No Approval Yet for U.S. Soybean Imports

Although the India–U.S. Bilateral Trade Agreement (BTA) is nearly finalised, the Indian government remains extremely cautious about farmer-related issues.

The government has not approved imports of:

• American soybean
• American maize

Officials have made it clear that farmer interests will not be compromised under any circumstances.

What to Expect in the Coming Months?

Around 40 lakh soybean farmers in India face major challenges each year due to fluctuating production, weather uncertainty, rising cultivation costs, and unstable market demand.

This year’s production is below average, and this shortage could impact market trends in early 2026.

Expert Estimates

• If soybean imports from the U.S. remain restricted, prices may rise by ₹200–₹300 per quintal between February and March 2026.
• If import permissions are granted, prices may decline further due to cheaper foreign supply.

Ujjain-based trader Amar Agrawal notes:

“Soybean prices in Neemuch and nearby processing plants are currently stable. If foreign imports do not enter the market, we may see a clear upward trend.”

Soybean Prices in Major Solvent Plants (Today’s Updates)

Madhya Pradesh

Maharashtra

Rajasthan

Conclusion

For now, the soybean market remains stable but cautious.
However, three major factors could trigger a price rise in the coming months:

1. Lower domestic production

2. Continued restrictions on U.S. soybean imports

3. Rising demand from oil mills and exporters

If these conditions hold, farmers may finally see stronger soybean prices by February–March 2026.