Analysts pleasantly surprised by the spectacular increase in soybean production area
16-Jul-2024 09:03 PM
Mumbai. Generally, there was a possibility of a 5-10 percent decline in soybean production area during the current Kharif season because its domestic market price has fallen below the government support price and due to the huge import of cheap soybean oil from abroad,
the crushing-processing industry is not getting proper profit but is facing unequal challenge and competition.
Analysts felt that this time farmers would focus more on the cultivation of pulses and maize instead of soybean.
The interesting fact is that there has been a good increase in the production area of pulses (tuvar-urad) and maize, but at the same time the area of soyabean has also increased rapidly.
According to the Union Agriculture Ministry, in the current Kharif season, till July 15, the production area of soyabean at the national level jumped to 108.10 lakh hectares,
which is 25.66 lakh hectares more than the sowing area of 82.44 lakh hectares in the same period of the year 2023.
Earlier, soybean was sown in 99.35 lakh hectares in the year 2022 and 90.32 lakh hectares in 2021.
It is worth noting that during the entire season of the year 2023, the total production area of soybean reached 124.12 lakh hectares, whereas this time till July 15, the area reached 108.10 lakh hectares.
Compared to last year, its total area is still 16 lakh hectares behind, but its sowing is going on in some provinces. In view of this, Canada is that the total area can reach around last year. In some places, it may also need to be sown again.
The central government has increased the minimum support price of soybean from Rs 4600 per quintal for the 2023-24 season to Rs 4892 per quintal for the 2024-25 season. This has increased the enthusiasm of the farmers to some extent.
The export performance of soymeal is going better. The top four soybean producing states in the country are Madhya Pradesh, Maharashtra, Rajasthan and Karnataka.
Apart from this, it is also produced in states like Gujarat, Telangana, Chhattisgarh and Andhra Pradesh.