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India: Oil-seed Soybean Production

by | Dec 14, 2021 | Oil Seeds, Soy Beans

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India: Oil-seed, Soybean, Production, Supply and Distribution

Oilseed, Soybean 2019/2020 2020/2021 2021/2022
Market Begin Year Oct-19 Oct-20 Oct-21
India USDA Official New post USDA Official New post USDA Official New post
Area Planted (1000 HA) 12200 12200 12700 11800 12700 12200
Area Harvested (1000 HA) 12193 12193 12700 11800 12500 12000
Beginning Stocks (1000 MT) 432 432 472 472 380 440
Production (1000 MT) 9300 9300 10450 10450 11900 11880
MY Imports (1000 MT) 520 520 400 550 350 350
Total Supply (1000 MT) 10252 10252 11322 11472 12630 12670
MY Exports (1000 MT) 80 80 50 32 300 200
Crush (1000 MT) 8400 8400 9500 9600 10000 10000
Food Use Dom. Cons. (1000 MT) 500 500 550 550 660 700
Food Waste Dom. Cons. (1000 MT) 800 800 842 850 1130 1200
Total Dom. Cons. (1000 MT) 9700 9700 10982 11000 11790 11900
Ending Stocks (1000 MT) 472 472 380 440 540 570
Total Distribution (1000 MT) 10252 10252 11322 11472 12630 12670

PRODUCTION

Market Year 2021/2022 Soybean Production Estimated at 11.88 MMT: Indian soybean production for marketing year (MY) 2021/22 (October-September) is estimated at 11.88 million metric tons (MMT) on 12 million hectares, based on industry estimates reporting higher acreage and better yields. The Indian states of Madhya Pradesh and Maharashtra alone account for almost 85 percent of the country’s total soybean production. In Madhya Pradesh production is MY 2021/2022 ascends to over 5.2 MMT, up 25 percent from last year, while in Maharashtra production is being eyed at about 4.8 MMT, up by 6 percent from last year. As of mid-November 2021, the soybean harvest is progressing well towards completion.

TRADE

Despite increased production, industry sources report that there is continued speculation and hoarding through forward trade contracts in the marketplace and commodity exchanges. As of mid-November, prices are again marching upwards – ranging between $805 to $832/MT (INR 60,000-62,000/MT).6 After a temporary respite, thanks directly to the Indian government’s decision to allow imports of foreign-origin soybean meal (derived from genetically engineered soybeans), prices for domestic soybeans plummeted by nearly 50 percent from the previous astronomical peak price of $1,342/MT

Source: USDA

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