India’s soybean output to increase 38% to 11.4 mt
India’s soybean output is likely to rise by a 38 per cent to 11.48 million tonnes this year compared to 8.36 million tonnes in the previous year.
The sharp rise is due to the increase in the average yield across the country, following favourable weather conditions in major cultivating states including Madhya Pradesh, Maharashtra and Rajasthan.
The data captured through the latest assessment of farmers, traders and other stakeholders by the apex industry body, the Soybean Processors’ Association (SOPA), showed, during the current season, the soybean acreage jumped by 6.7 per cent to 10.84 million hectare from 10.16 million hectare in the previous season.
Average yield jumped by 29 per cent to 1059 kg per hectare for the current harvesting season from 823 kg per hectare in the previous season.
“Based on an exhaustive survey, we estimate India’s soybean output to remain at 11.48 million tonnes this year compared to 8.3 million tonnes in the previous year owing to favourable climatic conditions,” said D N Pathak, spokesperson, SOPA.
The survey finds a 41 per cent increase in soybean output in Madhya Pradesh to 5.92 million tonnes for the current season from 4.2 million tonnes last year.
Total yield in the state is estimated to rise by 30.5 per cent to 1094 kg per hectare for the current season from 838 kg from the previous season.
Total acreage under soybean jumped by 8 per cent in Madhya Pradesh to 5.41 million hectare this year from 5 million hectare last year.
The survey presented a surprising picture in Maharashtra despite droughts in many agricultural pockets in the state.
Soybean output in Maharashtra is estimated to rise by 32 per cent to 3.84 million tonnes for this year compared to 2.91 million hectare last year. Known for its drought resistance nature, the crop’s yield in the state jumped by 25 per cent to 1054 kg per hectare this year from 843 previous year.
Farmers brought in 5.5 per cent of additional area which lifted overall sowing under soybean coverage at 3.64 million hectare this year from 3.45 million hectare last year.
The Union Ministry of Agriculture in its First Advanced Estimate forecast India’s overall soybean output at 13.46 million tonnes for the current year as compared to 10.98 million tonnes for 2017-18.
Despite increase in overall output, soybean prices has been moving up for quite sometime now. Overall soybean prices have jumped by around 20 per cent in the last two months following increase in the minimum support price (MSP) of this kharif sown crop.
The government has fixed soybean MSP at ~3399 a quintal for 2018-19 as compared to ~3050 a quintal for the previous year.