Soybean output in India likely to reach 110 lakh tonnes on high acreage

Due to increase in acreage and conducive weather condition, country’s Soybean output is likely to touch 105 lakh tonne-110 lakh tonnes, industry experts aver. Although there was a drought like situation in some parts of key growing area, Soybean output have not been impacted much.

The average production of the previous three seasons is in the range of 95 lakh tonnes to 100 lakh tonnes. Last season the production was around 83 lakh tonnes. For the current season, the Solvent Extractors Association of India (SEA) estimates the production to touch 105 lakh tonne to 110 lakh tonne.

As per Soybean Processors Association of India ( SOPA) the crop is likely to touch 110-115 lakh tonnes since the area under cultivation has increased. SOPA in its first survey of Soybean crop for 2018-19 season has estimated the total area under Soybean at 108.396 lakh hectares. The area has increased by 6.83 lakh hectares (6.7 per cent) as compared to previous year.

“If we take the average production of the previous three seasons, the production has been in the range of 95 lakh tonne to 100 lakh tonne. Last season the production was around 83 lakh tonne. This season although there has been a drought in some parts of Maharashtra, the soybean pockets have not been impacted much and the weather has been favourable in Madhya Pradesh,” BV Mehta , executive director, Solvent Extractors Association of India (SEA) said.

The Minimum Support Price ( MSP) for soybean has been fixed by the government at Rs 3,390 per quintal.

As per SOPA estimates, the area under cultivation in Maharashtra is 36.390 lakh hectares which is 10% less than the government estimates of 40.433 lakh hectares. Similarly the actual area in Rajasthan is 9.212 lakh hectares as compared to 10.112 lakh hectare given by the government. The area in Madhya Pradesh has however, increased to 54.1 00 lakh hectares in 2018 as against 50.100 lakh hectares in 2017.

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 can be reached at shekhar.ghosh@indoasiancommodities.in.

Leave a Reply

Your email address will not be published. Required fields are marked *