Indian farmers are limiting their soybean cultivation due to falling prices by around 10%; This has then to the follow that increasing imports of edible oils (Palm oil and soybean oil). That's the assessment of a local trade association.
Soybeans are the most important oilseed for the world's largest oil importer. The prices of these have fallen in the last two years by 10%, while the prices of pulses have tripled in that period.
A smaller soybean crop in India would force the country to import more edible oils. Also sharply soybean meal export from India; one of the few origins that are still safe GMO free.
The farmer cultivated in 2015/16 to 11.63 million hectares of soybeans; only 10.5 million hectares would be at a limitation to 10% for 2016/17. Most Indian farmers who grow soybeans, have also legumes such as peas in rotation. Both species are dependent on the monsoon rains. The monsoon season in India begins in June.
India is in Asia of one of the most important suppliers for soybean meal, a smaller soybean crop has led last year already, that even India had to import smaller quantities of soybean meal. Due to the increase in population increases the need for import of vegetable oils.
