Trade body estimates India’s soybean supply at 104 lakh tonnes in 2017-18

The Soybean Processors Association of India (SOPA) has, in its first quarterly estimates, put the total supply of the bean at 104.49 lakh tonnes for the oil year 2017-18, with estimated carryover stocks of 3.99 lakh tonnes.

For the first quarter of the current oil year till December 2017, the production is pegged at 91.46 lakh tonnes, while the carryover from the last year is put at 13.03 lakh tonnes. The demand for crushing is likely to be around 85 lakh tonnes, while exports are projected at 2 lakh tonnes.

With 12 lakh tonnes retained for sowing and 1.5 lakh tonnes for direct consumption, the carryover for the coming year is estimated at 3.99 lakh tonnes.

Last year, monsoon arrived on time and the sowing of soybean was done during 10th June to 20th July, 2017. In some areas, re-sowing had to be done because an extended dry spell.

It is estimated that area under soybean may decrease by about 6.4 per cent over last year’s area estimate of SOPA. Estimate of area given by the government was higher than that of SOPA in 2016.

Overall condition of the Soybean crop in most areas was normal this year. In some parts of Madhya Pradesh and Maharashtra, where light soil exists, soybean crop was initially damaged due to moisture stress, but late rainfall made up for the loss.

The extended dry spell also caused attack of some pests and insects in some areas. Attack of white grub larva was seen in some districts of Madhya Pradesh. The damage was however restricted to a small area.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He also advises companies on thought leadership imperatives.

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