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India Soybean output likely to drop in 2017
Commodity Online | October 12 2017
UPDATED 14:22:29 IST

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It is estimated that the global Soybean production likely to advance further to reach a record level during 2017, it will be fourth year in a row, 348.44 million tonnes against 351.44 million tonnes last year, but India's domestic output may be less than 9.1 MT against 11.5 MT compared to last year.

As per the feed back from the plant owners, there is a big difference in Indian meal in the global market against South America countries, the demand for the Indian meals are shrinking every year.

India import almost 70 percent of edible oil for the domestic use, hence the farmers are not getting good value for their produce, which force them to produce less Soybean every year to avoid lose from their farm.

The industry owners and farmers have argued for help from the government to impose heavy import duty on the edible oil to safeguard the farmers and industry owners which will help them to increase in the production.

Farmers and industry owners are awaiting for government support.

 

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