Before the new harvest arrives, soybean prices are already declining. The prices have dropped below the Minimum Support Price (MSP), and are currently about 15% lower than last year. Experts suggest that soybean prices could fall further. Currently, there is a decline in soybean prices. In Indore, a benchmark market for soybeans in Madhya Pradesh, prices have dropped from ₹4,600 to ₹4,300 per quintal over the past month. In Latur, a major soybean-producing state in Maharashtra, prices have decreased from ₹4,710 to ₹4,520 per quintal. The MSP for soybeans is ₹4,892 per quintal. Therefore, soybean prices are currently well below the MSP. The current prices are also lower compared to last year's prices for the same period. Last year, prices in Indore were ₹5,050 and in Latur, ₹5,120 per quintal during this time. Reasons for the Decline in Soybean Prices The drop in soybean prices is attributed to the increased acreage for the current kharif season. According to recent government data, this year's soybean acreage is recorded at 12.511 million hectares, which is higher than the 12.385 million hectares from the same period last year. With the increase in acreage and good crop conditions so far, the drop in prices below the MSP before the new harvest is concerning for farmers. Prices are expected to fall further with the arrival of the new crop. Soybean prices could potentially drop below ₹4,000. The increase in arrivals has also contributed to the price decline. According to Agmarknet, between July 21 and August 21 this year, approximately 300,000 tons of soybeans have arrived in the markets, compared to about 281,000 tons during the same period last year. This indicates an 8% increase in arrivals this year.