In 2023, approx. 725K tons of soya beans were imported into India; jumping by 48% against 2022 figures.

Soybeans fell to 1,000.16 USd/Bu on July 14, 2025, down 0.41% from the previous day. Over the past month, Soybeans's price has fallen 6.51%, and is down 6.98% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Soybeans - values, historical data, forecasts and news - updated on July of 2025.

NCDEX: Spot Price: Soybean Meal: Hipro: Indore: Second Session data was reported at 32,800.000 INR/Metric Ton in 16 May 2025. This records a decrease from the previous number of 33,100.000 INR/Metric Ton for 15 May 2025. NCDEX: Spot Price: Soybean Meal: Hipro: Indore: Second Session data is updated daily, averaging 43,725.000 INR/Metric Ton from Jan 2023 (Median) to 16 May 2025, with 574 observations. The data reached an all-time high of 51,000.000 INR/Metric Ton in 16 Nov 2023 and a record low of 28,600.000 INR/Metric Ton in 18 Mar 2025. NCDEX: Spot Price: Soybean Meal: Hipro: Indore: Second Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

After three years of growth, the Indian soya bean market decreased by -21% to $9.2B in 2024. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $11.7B in 2023, and then reduced dramatically in the following year.

Explore the factors influencing soybean meal prices in India, including local production, international market trends, and government policies, with insights on how these elements impact the agricultural sector.

Get the latest insights on price movement and trend analysis of Soyabean in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Soybean accounted for nearly 289 billion Indian rupees in the Indian economy in fiscal year 2021. This variety of oilseeds made up over 23 percent of the sector that year. Oilseeds, overall contributed over eight percent to the GVA of crops that same year, a decrease from nine percent in fiscal year 2012.

NCDEX: Spot Price: Soybean: Kota: Second Session data was reported at 4,523.000 INR/Quintal in 16 May 2025. This records a decrease from the previous number of 4,646.000 INR/Quintal for 15 May 2025. NCDEX: Spot Price: Soybean: Kota: Second Session data is updated daily, averaging 4,822.750 INR/Quintal from Jan 2023 (Median) to 16 May 2025, with 547 observations. The data reached an all-time high of 6,009.500 INR/Quintal in 03 Jan 2023 and a record low of 4,040.000 INR/Quintal in 11 Mar 2025. NCDEX: Spot Price: Soybean: Kota: Second Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

2446 Global import shipment records of Soybean with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

The average retail price of soya oil per kilogram in Mumbai was almost *** Indian rupees in December 2022. In contrast, the average retail price of one kilogram of soya oil in Kolkata amounted to nearly ***** Indian rupees.

Agri Output Value: 2004-05p: Oilseed: Soyabean: Maharashtra data was reported at 57,225.800 INR mn in 2011. This records an increase from the previous number of 29,132.700 INR mn for 2010. Agri Output Value: 2004-05p: Oilseed: Soyabean: Maharashtra data is updated yearly, averaging 33,507.009 INR mn from Mar 2005 (Median) to 2011, with 7 observations. The data reached an all-time high of 57,225.800 INR mn in 2011 and a record low of 24,397.700 INR mn in 2009. Agri Output Value: 2004-05p: Oilseed: Soyabean: Maharashtra data remains active status in CEIC and is reported by Ministry of Statistics and Programme Implementation. The data is categorized under Global Database’s India – Table IN.RIG177: Agriculture Output Value: 2004-2005p: Constant Price: by States: Non Foodgrains: Oilseed: Soyabean.

In 2024, the Indian crude soybean oil market decreased by -3.1% to $5.1B, falling for the second consecutive year after three years of growth. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2024: its value increased at an average annual rate of +2.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

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Soybean Seed Market Size 2025-2029

The soybean seed market size is forecast to increase by USD 3.78 billion at a CAGR of 6.3% between 2024 and 2029.

The market is driven by the high nutritional value of soybeans, making them a preferred choice for livestock feed and human consumption. Soybean seeds are rich in proteins, essential amino acids, and healthy fats, fueling their demand in various industries. Technological advancements in soybean processing have led to the development of improved seed varieties, enhancing productivity and yield. However, the market faces regulatory hurdles due to biotech regulations pertaining to using genetically modified seeds in soybean seed production. These regulations vary across regions, leading to supply chain inconsistencies that temper growth potential. Agriculture robots, powered by artificial intelligence, computer vision, and machine learning, are revolutionizing farming operations by automating labor-intensive tasks such as harvesting.
Companies seeking to capitalize on market opportunities must navigate these challenges by staying updated with regulatory requirements and ensuring a robust supply chain. Additionally, investing in research and development to introduce innovative seed varieties and processing techniques can help differentiate offerings and gain a competitive edge.

What will be the Size of the Soybean Seed Market during the forecast period?

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In the dynamic the market, various factors influence farming practices and global trade patterns. Soil health plays a crucial role in determining crop maturity and yield improvement. Sensor technology and precision farming tools facilitate data-driven agriculture, enabling farmers to optimize planting density, crop rotation, and harvest timing. Risk management strategies are essential to mitigate price volatility in commodity markets. Seed quality, including disease resistance, pest tolerance, and herbicide resistance, is paramount for farmers. Storage conditions are vital to maintain seed viability, ensuring a steady supply for farmers. Soybean varieties with seed treatment offer enhanced protection against pests and diseases. Equipped with artificial intelligence, computer vision, and advanced hardware, these robots can identify ripe fruits and vegetables with precision, minimizing damage.
Water management is another critical factor in sustainable farming, as drought and excessive moisture can impact crop maturity. Organic production and non-GMO options cater to diverse market demands, while genetically modified organisms contribute to yield improvement and biofuel production. Crop rotation, crop maturity, and seed quality are essential aspects of farm management practices. Remote sensing technology assists in monitoring crop health and identifying potential issues, allowing farmers to take preventive measures. Global trade patterns impact the market, with key players focusing on supply chain management and ensuring seed availability. Farmers and businesses must adapt to these trends to remain competitive and maintain food security.
Water management, disease resistance, and pest tolerance are essential for sustainable farming practices and maintaining high-quality seed.

How is this Soybean Seed Industry segmented?

The soybean seed industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Genetically modified
  Non-genetically modified


Distribution Channel

  Offline
  Online


Application

  Animal feed
  Food processing
  Biofuel processing


Product Type

  Treated seeds
  Untreated seeds


Geography

  North America

    US
    Canada
    Mexico


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Type Insights

The genetically modified segment is estimated to witness significant growth during the forecast period. Genetically modified soybean seeds, which offer herbicide tolerance and pest resistance, are gaining popularity among farmers due to the increasing demand for higher yields and improved profitability. The adoption of these seeds is driven by several factors, including a growing population, shrinking arable land, and changing climatic conditions. Advancements in biotechnology and genetic engineering techniques have enabled the development of seeds with enhanced stress tolerance, disease resistance, and other desirable traits. These seeds contribute to more efficient farm management, as they require fewer inputs and reduce the need for crop rotation. The integration of artificial intelligence (AI) in agricultural machinery offers opportunities for human-assisted automation, expediting agricultural practices and

NCDEX: Spot Price: Soybean: Nagpur: Second Session data was reported at 4,545.000 INR/Quintal in 16 May 2025. This records a decrease from the previous number of 4,557.650 INR/Quintal for 15 May 2025. NCDEX: Spot Price: Soybean: Nagpur: Second Session data is updated daily, averaging 4,775.400 INR/Quintal from Jan 2023 (Median) to 16 May 2025, with 574 observations. The data reached an all-time high of 5,807.500 INR/Quintal in 03 Jan 2023 and a record low of 4,211.700 INR/Quintal in 05 Mar 2025. NCDEX: Spot Price: Soybean: Nagpur: Second Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

(a) Pearson correlation coefficient matrix for soybean oil consumption, population, GDP per capita, import, export, and soybean oil price. (b) Results of a multiple linear regression analysis with soy oil as the dependent variable and population, GDP per capita, import, export, and soy oil price as independent variables. The table provides the coefficients, standard errors, t-statistics, and p-values for each independent variable, as well as the intercept. (c) Pearson correlation coefficient matrix for soybean meal consumption, population, GDP per capita, import, export, and soybean meal price. (d) Results of a multiple linear regression analysis with soybean meal as the dependent variable and population, GDP per capita, import, export and soy meal price as independent variables. The table provides the coefficients, standard errors, t-statistics, and p-values for each independent variable, as well as the intercept.

NCDEX: Spot Price: Soybean: Latur: Second Session data was reported at 4,403.600 INR/Quintal in 16 May 2025. This stayed constant from the previous number of 4,403.600 INR/Quintal for 15 May 2025. NCDEX: Spot Price: Soybean: Latur: Second Session data is updated daily, averaging 4,721.750 INR/Quintal from Jan 2023 (Median) to 16 May 2025, with 529 observations. The data reached an all-time high of 5,807.500 INR/Quintal in 03 Jan 2023 and a record low of 3,959.200 INR/Quintal in 10 Mar 2025. NCDEX: Spot Price: Soybean: Latur: Second Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

At the end of fiscal year 2024, India was estimated to produce around ** million metric tons of soya bean. This was a decrease from the previous fiscal year. Soya bean in the country was only produced during kharif season.

The global soybean market was valued at USD 157.60 Billion in 2024 and is expected to grow at a CAGR of 4.10% during the forecast period of 2025-2034 to reach a value of USD 235.54 Billion by 2034. The growing demand for soybeans in food, animal feed, and biofuels has boosted the overall consumption rate.

Key Market Insights

• Asia Pacific has emerged to be the dominant region with a CAGR of 5.3% during the forecast period.
• The rising popularity of plant-based diets has increased soyabean consumption, especially in food products including tofu and soy milk.
• The India soyabean market is projected to register 6.1% CAGR during the forecast period.
• By application, the animal feed segment is expected to register a CAGR of 4.7% during the forecast period.
• By nature, the organic segment is expected to garner a 4.6% CAGR through 2034.

Market Size & Forecast

• Market Size in 2024: USD 157.60 Billion
• Projected Market Size in 2034: USD 235.54 Billion
• CAGR from 2025 to 2034: 4.10%
• Dominant Regional Market: Asia Pacific

Soybeans are rich in protein and oil, driving consumption in health-conscious diets. Additionally, soybean production benefits from technological advancements, favourable trade policies, and increasing plant-based product demand worldwide.

NCDEX: Spot Price: Soybean Meal: Indore: Second Session data was reported at 29,500.000 INR/Metric Ton in 16 May 2025. This stayed constant from the previous number of 29,500.000 INR/Metric Ton for 15 May 2025. NCDEX: Spot Price: Soybean Meal: Indore: Second Session data is updated daily, averaging 39,090.150 INR/Metric Ton from Jan 2023 (Median) to 16 May 2025, with 574 observations. The data reached an all-time high of 46,042.250 INR/Metric Ton in 15 Nov 2023 and a record low of 25,000.000 INR/Metric Ton in 18 Mar 2025. NCDEX: Spot Price: Soybean Meal: Indore: Second Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

This statistic shows the leading countries in soybean production worldwide from 2012/13 to 2024/25. From 2015/16 to 2018/2019, the United States was the leading global producer of soybeans with a production volume of ****** million metric tons in 2018/2019. As of 2019, Brazil overtook the United States as the leading soybean-producing country with a production volume of some *** million metric tons in 2023/24. Soybean production Soybeans are among the major agricultural crops sown in the United States, behind only corn. They belong to the oilseed crops category, and the majority of U.S. soybeans are planted in May and early June and are harvested in late September and October. Production practices show that U.S. farmers commonly cultivate soybeans in crop rotation with corn. More than ** percent of soybeans are grown in the upper Midwest. The United States reported Illinois, Iowa, and Minnesota as their leading soybean producing states in 2022. Historical data demonstrates that large-scale soybean production did not commence until the 20th century in the United States. However, the latest statistics illustrate that the acreage of the dominant oilseed crop has expanded rapidly. The certain increase of soybean acreage was supported by several factors, including low production costs and a greater number of 50-50 corn-soybean rotations. Furthermore, soybeans were one of the first crop types that accomplished commercial success as bioengineered crops. The first genetically modified (GM) soybeans were cultivated in the United States in 1996. They possess a gene that confers herbicide resistance.The usage of soybeans ranges from the animal food industry over human consumption to non-food products. The highest percentage of soybeans goes to the animal feed industry. The product portfolio intended for human consumption include products such as soy milk, soy flour or tofu.