Soyabean

The Centre has extended procurement of soyabean in Maharashtra by 24 days and Telangana by 15 days, beyond normal purchase period of 90 days, to protect farmers' interest. Groundnut procurement in Gujarat has been extended by six days, and in Karnataka by 25 days. According to an official statement, the government approved the procurement of soyabean under the price support scheme (PSS) in Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, and Telangana for Kharif 2024-25. A quantity of 19.99 lakh tonnes of soyabean has been procured till February 9, 2025 benefitting 8,46,251 farmers. "Minister of agriculture and farmers' welfare Shri Shivraj Singh Chouhan has approved the proposal to extend the period of procurement in Maharashtra by 24 days and in Telangana by 15 days beyond the normal procurement period of 90 days keeping the interest of farmers of the state," the statement said. Similarly, the government approved the procurement of groundnut under the PS

The Centre has extended the soybean procurement deadline in Maharashtra to January 31, and in Rajasthan to February 4, following requests from state governments, Agriculture Minister Shivraj Singh Chouhan said on Monday. The previous deadlines were January 12 for Maharashtra and January 15 for Rajasthan. "Procurement is underway. We have extended the deadline for procurement in both Maharashtra and Rajasthan on state governments' requests," Chouhan told reporters. The government has also permitted additional procurement of 25,000 tonnes from Telangana, which has already reached its initial target of 59,508 tonnes. Total soyabean procurement across the country has reached 13.68 lakh tonnes so far, Chouhan said. The procurement in Maharashtra and Rajasthan is being conducted under the Price Support Scheme (PSS), with the government purchasing soybean at a Minimum Support Price (MSP) of Rs 4,892 per quintal. Chouhan said he would hold weekly Monday meetings at Krishi Bhavan to revie

Agriculture Minister Shivraj Singh Chouhan on Tuesday expressed concern over soil degradation affecting 30 per cent of India's land and stressed the need for urgent measures to maintain soil quality for sustainable farming. Addressing a global conference on soil through video conferencing, Chouhan said improving soil health is crucial for achieving Sustainable Development Goals (SDGs) related to zero hunger, climate action and life on land. "We are producing more than 330 million foodgrains annually and exporting worth USD 50 billion. This success however comes with concerns, especially regarding soil health," the minister said. According to Chouhan, about 30 per cent of India's land is experiencing degradation due to rising fertiliser consumption, imbalanced use of fertilisers, exploitation of natural resources and wrong soil management practices. The minister highlighted various government initiatives, including the distribution of more than 220 million soil health cards to farme

Soybean production in the country has increased by about 6 per cent to nearly 126 lakh tonnes in the current kharif season due to favourable weather conditions, an organisation of the crop processors said on Tuesday. Its acreage remained almost the same as last season, the trade body said. During the last kharif season, the average productivity of soybean per hectare in the country was 1,002 kg, while this time it has increased to 1,063 kg, Soybean Processors Association of India (SOPA) Executive Director D N Pathak told PTI. "This time the distribution of monsoon rains in the major soybean producing areas of the country was good, which boosted the crop yield. The adoption of advanced methods of farming by cultivators and increased the crop yield," he said. After the sowing of soybean during the kharif season of 2023, there was a severe lack of moisture in the fields due to lack of rain for three weeks in the major soybean producing areas in August, as a result the crop productivit

India is the world's largest importer and meets 70% of its vegetable oil demand through foreign sourcing

India's crude soyabean oil imports reached a seasonal high of 4,54,639 tonnes in August, even as local soyabean prices have dropped below the minimum support price (MSP), industry body Solvent Extractors Association (SEA) said on Thursday. According to SEA, crude soyabean oil imports in August 2023 stood at 3,57,890 tonnes. The share of non-palm oils, including soyabean oil, made up 48 per cent of the total vegetable oil imports. The surge in imports comes as local soyabean prices dropped below the MSP, raising concerns about farmers' income with the new crop's arrival expected in the coming weeks. SEA praised the government's efforts to procure soyabean at MSP in Madhya Pradesh, Maharashtra and Karnataka, but suggested increasing import duties on crude and refined edible oils by 20 to 25 per cent across the board as a more effective solution. "This will translate into remunerative price to the farmers for his produce and the market forces will be able to pay above MSP price to the

Union Agriculture Minister Shivraj Singh Chouhan on Wednesday said the government will procure soyabean at a minimum support price in Madhya Pradesh amid a fall in the rates below the MSP level. MSP of soyabean (yellow) is fixed at Rs 4,892 per quintal for 2024-25. The procurement will be carried out under the Price Support Scheme (PSS) implemented by the agriculture ministry. "MP farmers are worried about soyabean prices ruling below MSP. We received a proposal from the MP government on procurement yesterday night. We have approved it," Chouhan told reporters. Soyabean will be purchased at an MSP in Madhya Pradesh also, the minister said, asserting that the farming community is a priority for the government and he believes serving farmers is like worshipping God. Earlier, the Centre had given permission for procurement of soyabean at MSP rate in Maharasthra and Karnataka, he added.

Soybean rates in Madhya Pradesh and also in neighbouring Maharashtra had touched multi-year lows due to bumper supplies and unrestricted imports of cheap edible oils

India exported a record 48.86 tonnes of oilmeal -- used as animal feed -- during the 2023-24 financial year on revival of shipments of soyabean meal, industry body SEA said on Thursday. In value terms also, the country's oilmeal exports were highest at Rs 15,368 crore during 2023-24 fiscal. The previous record was 43.81 lakh tonnes achieved in 2013-14 fiscal, while in value terms shipments stood at Rs 11,500 crore. "This is the highest export of oilmeals since 2013-14 in terms of quantity and value," the Solvent Extractors Association of India (SEA) said in a statement. The overall export of oilmeals during the April-March period of 2023-24 fiscal was highest at 48.86 lakh tonnes, up by 13 per cent from 43.36 lakh tonnes in the previous year. The industry body said the export of soyabean meal revived during the year and reported at 21.33 lakh tonnes in 2023-24 fiscal, compared to 10.22 lakh tonnes in 2022-23 as Indian soybean meal was most competitive in the international ...

Soybean Processors Association of India (SOPA) on Tuesday said any delay in rains will affect the productivity of soyabean crop in all major producing states, including Madhya Pradesh. Production of soyabean, which is grown in Kharif (summer-sown) season, stood at a record 149.76 lakh tonnes in 2022-23 crop year (July-June) as against 129.87 lakh tonnes in the previous year, according to the government data. As per the agriculture ministry data, sowing of soyabean is higher at 124.71 lakh hectares till August 25 in the ongoing kharif season as against 123.60 lakh hectares in the year-ago period. "There has been unprecedented shortfall in rainfall in August and while the crop has held on to its own till date, rains are required immediately. Any delay in rains will be detrimental to the soybean crop in the entire country," SOPA said in a statement. The association has undertaken an extensive crop health monitoring survey of soybean crop in Madya Pradesh, Maharashtra and Rajasthan ...

A leading association of soybean processors on Tuesday estimated that the crop has been sown in about 90.50 lakh hectares in the country during the current kharif season. The organisation -- Indore-based Soybean Processors' Association of India (SOPA) -- believes soybean sowing this season might be slightly less than the last time due to the delay in the arrival of monsoon and the preference of farmers for other crops. SOPA said of the total 90.50 lakh hectares where soybean was sown till July 10, 42.66 lakh hectares was in Madhya Pradesh, the country's largest soybean producer, where the crop is popularly known as "yellow gold" among farmers. According to the latest data of the organisation, soybean has been sown in 30.8 lakh hectares in Maharashtra, 10.28 lakh hectares in Rajasthan, 2 lakh hectares in Karnataka, 1.85 lakh hectares in Gujarat, 1.65 lakh hectares in Telangana, 35,000 hectares in Chhattisgarh and 85,000 hectares in other states. SOPA Executive Director DN Pathak tol

India's soybean import is estimated to decline by 9.90 per cent to 5 lakh tonnes in the ongoing 2022-23 oil year (October-September), as against 5.55 lakh tonnes in the previous year, on higher domestic supplies, industry body SOPA said on Monday. Similarly, import of soybean meal -- an animal feed -- is also expected to decline substantially to 4,000 tonnes from 6.45 lakh tonnes in the said period, it said. Oil year runs from October to September. Releasing the estimates, the Soybean Processors Association of India (SOPA) said domestic production is pegged at 124.11 lakh tonnes during the 2022-23 oil year, as against 118.89 lakh tonnes in the previous year. The carry over stock is estimated higher at 25.15 lakh tonnes, as against 1.83 lakh tonnes in the said period. As a result, total import of soybean and soybean meal is projected to be lower this year. However, export of soybean meal is likely to increase substantially to 17 lakh tonnes in 2022-23, from 6.44 lakh tonnes in the

In past one month, the stock was down 20 per cent after the government decided to discontinue import of crude soybean oil under tariff rate quota (TRQ).

The government on Wednesday said that it has decided to discontinue import of crude soybean oil under tariff rate quota (TRQ) from April 1 this year. TRQ is a quota for a volume of imports that will enter India at specified or nil duty, but after the quota is reached, the normal tariff applies to additional imports. "Last date for import of crude soybean oil under TRQ has been revised to March 31, 2023. Further, no allocation of TRQs for import of crude soybean oil shall be made for 2023-24," the directorate general of foreign trade (DGFT) said in a public notice. The government has earlier exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soybean oil and crude sunflower oil each, to ease domestic prices. The duty-free import of 20 lakh MT per year was earlier applicable for two financial years -- 2022-23 and 2023-24 -- for crude soybean oil and crude sunflower oil. Now it is applicable only for crude sunflower see

Madhya Pradesh is the leading soybean-producing state with over 40 per cent share in the country's total production of around 13 million tonnes

The total availability of soyabean is estimated at 147.55 lakh tonnes this season, higher than 126.27 lakh tonnes in the previous season

India's soyabean import is pegged lower by 64 per cent at 2 lakh tonnes in the 2022-23 season on prospects of higher domestic production, industry body SOPA said on Wednesday. The country had imported 5.55 lakh tonnes of soyabean during the 2021-22 season (October-September), it said. According to the Soybean Processors Association of India (SOPA), the domestic production of soyabean is estimated to increase to 120.40 lakh tonnes in the 2022-23 season when compared with 118.89 lakh tonnes last season. Even the carry-over stock remains higher at 25.15 lakh tonnes as against 1.83 lakh tonnes in the previous year. The total availability of soyabean is estimated at 147.55 lakh tonnes this season, higher than 126.27 lakh tonnes in the previous season, the industry body said in a statement. Out of the total soyabean, about 100 lakh tonnes would be available for crushing this season as against 84 lakh tonnes in the previous 2021-22 season. About 13 lakh tonnes are estimated to be retain

The Soybean Processors Association of India (SOPA) on Tuesday demanded the government take immediate action against the illegal import of genetically modified (GM) soyabean. Currently, the import of GM products is prohibited. "However, it has come to our knowledge that some unscrupulous companies are importing GM soybean, in contravention of every rule and regulation," SOPA Executive Director D N Pathak said in a letter to the Union Agriculture Ministry. A vessel carrying 17,741 tonnes of GM soyabean is currently discharging the cargo at Mumbai port, he claimed, and requested the ministry to take "immediate action". "If immediate action is not taken, and such imports are permitted, it will open the flood gates for illegal imports of GM soybean which will destroy our soybean cultivation," Pathak said. The soybean may find its way even to the farmers, causing irreparable damage to Indian soybean cultivation, he added. Soyabean is one of the major oilseeds that India is focusing on

The US is expecting India to address small trade barriers and facilitate the export of non-genetically modified (non-GMO) soyabean and speciality soyabean products, a senior US diplomat said

The govt has exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soyabean oil and crude sunflower oil each, to ease domestic prices