22.
06.15
09:44

India's soybean harvest at 1 million tonnes higher than last year

This year, India could increase its soybean production by 10% over the previous year, as in the major growing regions of Madhya Pradesh in the Centre and Maharashtra in the West got significantly more rain at the beginning of the monsoon season than usual. It might help that the world's largest importer of edible oils in the coming marketing year, which begins in November, needed fewer imports and is therefore international oil prices under pressure. In addition, India's export of soybean meal should rise because local meal prices come under pressure and countries in South Asia, as well as the Iran as a buyer in question.
The acreage for soybeans is by the Association of the Ölmüller (SEA) than stable estimates, but the production will be higher than expected in the previous year due to the timely rains. Last year, India had harvested 9 million tons of soybeans, it might be 10 million tons this year.
Last year, prices of Indian soybean meal far beyond the level of world market were because the early soybean crop suffered a drought and turned out to be small. The influence of the smaller harvest on India's imports of edible oils in the 2014/15 marketing year is, however, still felt. You rose by 12% to 13 million tonnes, partly because low palm oil prices provide an additional incentive. At the end of the marketing year, which ends in October, imports rise tangibly, because the supply of local providers remains limited. In may, 1.35 million tons were introduced, mainly palm oil from Indonesia and Malaysia, as well as soy oil from Argentina and Brazil.
Due to poor revenue from cotton production Dodge some farmers on the cultivation of peanuts, whose growing probably increases by 20%. In addition, business leaders expect that China resumes its canola meal imports from India in a few weeks. For 2011, there was an import ban due to contamination. Last month, a health Protocol was adopted at the highest level between China and India. Five Indian mills now meet China's health standards so that deliveries can be resumed in one month. Before the trading halt in 2011, China has introduced about 400,000 tonnes of rapeseed meal in the year from India.

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