MUMBAI (Commoditiescontrol) - India will have adequate supplies of soybean meal during 2015-16, even as major soybean producing state - Madhya Pradesh is expected to harvest two-third of what it produced during 2014-15, as per the Soybean Processors Association of India (SOPA).
The Indore based trade body, has released its second advance estimate for the current season. It has revised its first estimates of soybean crop this year and issued second advance estimates. It pegged total soybean production in 2015 is estimated to be 74 lakh tonnes.
SOPA has also issued the revised Supply & Demand for 2014-15 and projected supply and demand for soybean and soymeal for oil year 2015-16. According to SOPA, even at the lower soybean production this year, there will be no shortage of soybean meal for domestic use because exports are likely to only 2.50 lakh tonnes including neighbouring countries.
Meanwhile, Madhya Pradesh is expected to produce 34.125 Lakh Tonnes of soybean. As per government estimate of sowing on 59.06 Lakh Hacters (ha) as compared to Satelite estimate of 56.127 Lakh ha. Yields are pegged lower at 608 kg/Ha this year as against 896 kg/Ha recorded last year. Below normal average rainfall this year has affected sowing and yields of soybean production in Madhya Pradesh. Further, the late pick-up in rains have damaged standing crops in the region, as such there is expectation of drop in production.
Andhra Pradesh and Karnatak are also seen harvesting lower soybean crop while Chattisgarh, Gujarat and other regions are expected to maintain output at previous level.
Maharashtra (26.006 Lakh Tonnes) and Rajasthan (7.865 Lakh Tonnes) are likely to record rise in production amid increased yield.
SOPA in its second advanced estimate has pegged all India soybean production at 73.797 Lakh Tonnes this year, as against the previous years 87.108 Lakh tonnes. Over-all yield is also seen lower at 667 kg/Ha as against previous periods 790 kg/Ha.
Industry experts have been expecting prices to remain at elevated level due to tight supplies domestically.
Drop in exports mainly to SAARC region is seen balancing trade in 2015-16.
(By Commoditiescontrol Bureau; +91-22-40015523)
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