India's Soybean crop area set to rise as prices rally
Commodity Online | May 21 2019
UPDATED 16:40:09 IST

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India is set to grow soybeans on more land in the 2019 crop year as higher prices for the oilseed push some farmers to switch from cultivating competing commodities such as cotton and pulses, a top official of the Soybean Processors Association of India (SOPA) told Reuters.

Increased production of India's main summer-sown oilseed could help the world's biggest vegetable oil importer trim costly purchases from Brazil, Argentina, Indonesia and Malaysia.

It could also help boost Indian exports of animal feed ingredient soymeal to places such as Bangladesh, Japan, Vietnam and Iran, the official said.

Soybeans have been cultivated on 10.8 million hectares in the 2018 crop year, up 6.7 percent from the year before, according to data compiled by SOPA.

 

Commodity Arrivals Rate
Mustard Oil 2 8800.00
Coconut Oil 2 18400.00
Arecanut 21 22000.00
Sugar 390 3422.00

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