Uses of Soybean
– Processed Soybean is the largest source of protein feed and second largest source of vegetable oil in the world.
– Soybean seed is processed for Soymeal and Soy oil, both of these product are consumed throughout the country.
– There are many other product which are manufactured from Soybean like Soy nutrila, Soy flour, Soy yogurt, Soy sause, Soy milk, tofu etc.

Factors influencing the price
– Weather condition especially during sowing and pod bearing condition.
– Demand for Soybean from Soybean processing industry.
– Demand of Soymeal from poultry feed industry.
– Government policies: MSP, Import duty, stock limit, import and export duty on its derivatives.
– Demand-Supply and price scenario of other competitive oils i.e. palm oil.
– Price movement of Soybean in international exchange CBOT.
– International production of Soybean.
– International prices of Soymeal and Soy oil.