Arrival of about 98 lakh tonnes of soybean in the markets by June 2024
22-Jul-2024 08:56 PM
Indore. According to the latest data released by the Soybean Processors Association of India (SOPA), during the first nine months of the current marketing season i.e. from October 2023 to June 2024, a total of 98 lakh tonnes of soybean was supplied in the markets of major producing states, which was 1 lakh tonne less than the arrival of 99 lakh tonnes in the same period of 2022-23 season.
This time 20 lakh tonnes arrived in October 2023, 20 lakh tonnes in November, 12 lakh tonnes in December, 10 lakh tonnes in January 2024, 8 lakh tonnes in February, 7 lakh tonnes in March,
5 lakh tonnes in April, 7.50 lakh tonnes in May and 8.50 lakh tonnes of soybean arrived in June 2024. According to the report of SOPA,
in the current marketing season (October-September) of 2023-24, the total availability of soybean is estimated to reach 148.81 lakh tonnes with a previous outstanding stock of 24.07 lakh tonnes,
production of 118.74 lakh tonnes and potential import of 6 lakh tonnes. Out of this, a stock of 13 lakh tonnes was kept reserved for sowing and the remaining stock of 135.81 lakh tonnes was available for crushing,
direct use and export purposes. Out of this marketable surplus stock of 135.81 lakh tonnes, 98 lakh tonnes arrived in various mandis and 95.50 lakh tonnes were crushed.
Apart from this, 3.95 lakh tonnes were used directly and 6 thousand tonnes were exported and on July 1, 2024, 36.32 lakh tonnes of soybean stock remained with farmers, millers and traders. Crushing of 95.50 lakh tonnes of soybean produced 75.36 lakh tonnes of soymeal,
which was more than the production of 73.03 lakh tonnes last season. Under this, 9.07 lakh tonnes were produced in October, 9.47 lakh tonnes in November,
9.47 lakh tonnes in December, 9.07 lakh tonnes in January, 7.89 lakh tonnes in February, 8.29 lakh tonnes in March, 7.50 lakh tonnes in April,
7.50 lakh tonnes in May and 7.10 lakh tonnes in June 2024. During the nine months from October 2023 to June 2024, 17.77 lakh tonnes of soymeal was exported from India through sea and land routes, while in the domestic sector,
50.50 lakh tonnes of soymeal was used in animal feed manufacturing industry and 6.05 lakh tonnes for food purposes. After this, on July 1, 2024, the industry was left with a stock of 2.45 lakh tonnes of soybean DOC.