Soybean output may fall 17%

Soybean prices have moved up by 2% in the past few days amid expectations of lower output

Despite the government’s efforts to reduce India’s dependence on imported edible oil by increasing local oilseed production, soybean output is likely to decline by 17 per cent this kharif harvesting season, a survey said. Soybean is the country’s top oilseed. The decline is attributed to lower sowing area and reports of crop damage following a long dry spell in the peak planting season.
 
A survey conducted by the Indore-based apex industry body, The Soybean Processors Association (SOPA), showed India’s total sowing area under soybean crop this kharif season by mid-August is at 10.2 million hectares (ha), compared with 10.9