In the current marketing season, 107 lakh tonnes of soybean arrived in the mandis till July

16-Aug-2024 08:50 PM

Indore. The latest monthly report of Soybean Processors Association of India (SOPA), an important organization of vegetable oil industry and trade sector, shows that in the first 10 months of the current marketing season i.e. from October 2023 to July 2024,

a total of 107 lakh tonnes of soybean arrived in the mandis across the country, out of which 104.50 lakh tonnes were crushed and 4.15 lakh tonnes were directly consumed. 8 thousand tonnes were also exported. According to the SOPA report,

during the current marketing season (October-September) of 2023-24, with a previous outstanding stock of 24.07 lakh tonnes and production of 119.74 lakh tonnes,

the total availability of soybean reached 142.81 lakh tonnes, while about 6 lakh tonnes are also expected to be imported from abroad. Out of this,

13 lakh tonnes of stock was kept reserved for sowing while 135.81 lakh tonnes of stock remained for crushing-processing and other consumption. Out of this, about 108.70 lakh tonnes of soybean was used and on August 1, 2024, farmers, traders and millers had a stock of 27.11 lakh tonnes of soybean left.

As far as soymeal is concerned, in the current marketing season till the end of July 2024, its total production was 82.46 lakh tonnes while 1.17 lakh tonnes of old stock was left and 24 thousand tonnes were imported from abroad.

Out of this total availability, 19.24 lakh tonnes of soymeal was exported abroad and 6.65 lakh tonnes were used for food purposes in the domestic division and 56 lakh tonnes of soy DOC was used in feed manufacturing.

After this, a surplus stock of 1.98 lakh tonnes of soymeal remained on August 1. According to SOPA, domestic production of soybean was 124.11 lakh tonnes in the 2022-23 season,

while in the ten months from October 2022 to July 2023, 16.60 lakh tonnes of soybean meal was exported from the country.