Soybean Market | Soybean Output for 2017-18 Down | Soy Production (Feb 22, 2018)

India’s soybean output is at 83.5 lakh tonne for the harvesting season 2017-18, about 24% lower than 109 lakh tonne reported in the previous year, the latest survey by the apex industry body Soybean Processors’ Association (SOPA), estimates. The estimated exports for the oil year 2017-2018 are likely to be down to 12.5 lakh tonne as against 20 lakh tonne last year.

Soybean is a kharif crop and contributes to nearly one-third of India’s overall oilseeds output. SOPA earlier had estimated India’s soybean output at 91.5 lakh tonne and150 lakh tonne in its first survey in October. In contrast, the Union ministry of agriculture has pegged India’s total soybean output at 122.2 lakh tonne in its first advanced estimate for the season 2017-18, down from 137.9 lakh tonne in its fourth advanced estimate for 2016-17.

According to DN Pathak, executive director, SOPA, the country’s soybean output was reported at 109 lakh tonne. After an extensive survey in the major soybean growing districts in Madhya Pradesh, Maharashtra and Rajasthan that contribute around 90 % of the oilseed and interaction with farmers, traders, and processing plants, and after considering the arrivals, crushing, direct use and exports, the association has revised the kharif 2017 soybean crop to 83.5 lakh tonne from 91.5 lakh tonne forecast in October 2017. 

During the last season, both private and government agencies involved in the business of soybean, Soy oil and oilmeals had forecast India’s soybean output to remain lower this year due to flood-induced crop damage in major growing states, followed by blight disease in the plants. Industry estimates India’s total acreage down by 5 % this year.

SOPA estimated the total arrival of soybean into mandis at 53 lakh tonne, of which, crushing mills have processed 38 lakh tonne. Stock with farmers, traders and plants stands at 45.3 lakh tone.

For more news and alerts - Download the SoyaGuru app...
Thank you! Your answers submitted successfully!
Sorry, you can participate in contest only once.