2007 soybean output seen at 8.86 mn tonnes
India will harvest a record 8.86 million tonnes of soybean this year due to a higher acreage under the crop and favourable rains, a trade body forecast on Monday.
By PTI |
NEW DELHI: India will harvest a record 8.86 million tonnes of soybean this year due to a higher acreage under the crop and favourable rains, a trade body forecast on Monday. India harvests two oilseed crops annually but produces only one soybean crop, planted during the monsoon season in June and harvested from late September.
The country produced 7.14 million tonnes in 2006.
Rajesh Agrawal, co-ordinator of the Soybean Processors' Association of India, said in a statement that good rain in June and July in the leading soybean growing state of Madhya Pradesh would push up production.
The Central Organisation of Oil Industry and Trade last month forecast soybean output at 8.6 million tonnes in 2007.
India is expected to export a record 4 million tonnes of soymeal in the season beginning October 2007, buoyed by higher soybean output.
High freight rates from South America have also made Indian feedstock competitive in markets in southeast Asia. India sells soymeal mainly to China, Vietnam, South Korea and Indonesia
The country produced 7.14 million tonnes in 2006.
Rajesh Agrawal, co-ordinator of the Soybean Processors' Association of India, said in a statement that good rain in June and July in the leading soybean growing state of Madhya Pradesh would push up production.
The Central Organisation of Oil Industry and Trade last month forecast soybean output at 8.6 million tonnes in 2007.
India is expected to export a record 4 million tonnes of soymeal in the season beginning October 2007, buoyed by higher soybean output.
High freight rates from South America have also made Indian feedstock competitive in markets in southeast Asia. India sells soymeal mainly to China, Vietnam, South Korea and Indonesia
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