Soybean (Glycine max) is a sort of edible bean belonging to the legume family. It is a great source of inexpensive vegetable protein found in various forms such as frozen, canned, and dried or fresh. Its plant yields white or slightly purple self-fertilizing flowers with coloured seeds ranging from yellow, green, brown, black or bicoloured (one-four seeds/pod).
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The beans offer a high amount of vitamin K1, vitamin B9, fibre, molybdenum, antioxidants, phytoestrogens, omega-3 fatty acids, copper, manganese, phosphorus, isoflavones, thiamine, phytic acid (phytate), and saponins.
Key Details About the Soybean Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Soybean price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Soybean Price chart, including India Soybean price, USA Soybean price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Soybean Price Trend:
Soybean is an essential and staple food product which is consumed worldwide. That can be prepared as curd, tofu, soy milk, and cottage cheese and can also be used to make miso, fermented bean paste, soy sauce, and tempeh. The bean’s oil undergoes further processing, which creates products like margarine, shortening, and vegetarian/vegan cheeses. In addition, soybean meal can help substitute various food products that have a high protein content and is added to baby foods and vegetarian foods. Furthermore, it imparts a meat-like texture which improves the ground meat’s cooked yield. Apart from human consumption, it can also be used in animal feed. Also, soybean oil has various industrial use and is included in products including paints, adhesives, linoleum backing, fertilizers, sizing for cloth, and fire-extinguisher fluids, which in turn boosts its market demand.
Key Players:
- Cargill, Incorporated
- Archer Daniels Midland Company (ADM)
- Grain Millers, Inc
- Corteva Agriscience
News & Recent Development
- 30th May 2023- Crushers in China will foreseeably restrict their demand coverage for Q3 2023 as prices for soybean meal follow a downtrend that led to declining crush margins along with a lower estimation for entire open demand.
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