Krishi VaartaOutlook Agriculture
Soybean Imports Likely to Grow to 3 Lakh Tonnes
The unseasonal rains and floods in soybean producing states have damaged the soybean crop, which is expected to increase imports to 3 lakh tonnes in the current crop season as compared to 1.80 lakh tonnes in the previous crop season.
According to the Soybean Processors Association of India (SOPA), the production of soybean is estimated to be reduced to 89.84 lakh tonnes in the current crop season 2019-20 as compared to 109.33 lakh tonnes produced last year. There was an outstanding stock of 1.70 lakh tonnes of soybean left in the producing states at the time of arrival of the new crop, so the total availability in the current season will be 91.54 lakh tonnes.
SOPA Vice President Naresh Goenka said that the total availability of soybean is less in the current season, due to which the imports will be higher than last year. He said that the prices of soybean in the markets of Madhya Pradesh and Maharashtra are running from Rs 4,000 to Rs 4,050 and plant delivery price is Rs 4,150 to 4,200 per quintal.
Source: Outlook Agriculture, 9 December 2019
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