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Commodity Tips, Soybean output to decline by 24% on lower acreage, crop damage: SOPA
Floods in top growing states, blight disease take toll; total acreage down 5% this year
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The country's oilseed output this year has failed to keep pace with rising consumer demand for cooking oil.
The latest survey by the apex industry body, the Soybean Processors' Association (SOPA), estimates India's soybean output at 8.35 million tonnes for the harvesting season 2017-18, about 24 percent lower than 10.9 million tonnes reported in the previous year. Sown with the onset of the monsoon, soybean is a Kharif crop that contributes to nearly a third of India's overall oilseeds' output and sets the trend for other seeds such as groundnut and sesame in the summer sowing season, and rapeseed and mustard in winter.
SOPA earlier had estimated India's soybean output at 9.15 million tonnes in its first survey in October. In contrast, the Union Ministry of Agriculture has pegged India's total soybean output at 12.22 million tonnes in its first advanced estimate for the season 2017-18, down from 13.79 million tonnes in its fourth advanced estimate for 2016-17.
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