After initial growth, soybean sowing is expected to slow down

12-Jul-2024 01:56 PM

New Delhi. Although the domestic production area of ​​soybean jumped to 60.63 lakh hectares till last week, which was more than double the area of ​​28.86 lakh hectares in the same period last year,

but industry-trade and market analysts say that the pace of sowing may slow down in the coming time.

The executive director of a leading organization- Soya says that the highest production of soybean takes place in the central region of the country where Madhya Pradesh and Maharashtra are its two major producing states.

Soybean sowing may decrease in both these states. Similarly, Rahul Chauhan, Director of I Grain India, says that last year the pace of progress of monsoon was slow in the initial phase, so soybean sowing got delayed.

This time, due to the rain conditions being very good, farmers are not facing any difficulty in increasing the pace of sowing. Soybean sowing is still going on but overall its area may be less than last year.

Because in some areas farmers may give priority to cultivation of crops like tur, urad, paddy, maize and cotton instead of soybean. According to Rahul Chauhan, the soybean market is soft and its price has been running below the minimum support price since the peak season of supply.

Due to the availability of imported soybean oil at cheap prices from abroad, the demand for soybean in indigenous crushing-processing mills weakened.

Import of edible oils in India increased by 16.46 percent or 2.10 lakh tonnes from 13.10 lakh tonnes in June 2023 to 15.20 lakh tonnes in June 2024.

Major soybean producing states include Madhya Pradesh, Maharashtra, Rajasthan, Karnataka, Chhattisgarh, Gujarat and Telangana etc. Soybean sowing will continue till August.