Soybean Prices in India Dropped 38.04% YoY in W50 Amid Surplus Stocks and Favorable Crop Conditions

During W50, soybean prices in India dropped by 38.04% YoY to USD 0.46/kg. This drop is due to a surplus in soybean stocks, with a carryover of 3 mmt and a production of 12.33 mmt for the 2022/23 crop year. Consequently, India's soybean imports are projected to decrease by 9.90% YoY to 500 thousand mt during the 2022/23 MY.