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Soybean acreage to rise 8-10% on better realisation

Sharleen D'Souza  |  Mumbai 

The sowing area under soybean, the largest in the country, may rise 8-10 per cent in the ensuing due to increased confidence of farmers gained from last year. Overall sowing may set a record at 10.26 million hectares (ha) this year, compared to 9.33 million ha last year.

Rajesh Agrawal, spokesperson of the Indore-based Processors’ Association, forecasts acreage to remain high as farmers in major growing regions — Maharashtra, Rajasthan, Tamil Nadu and Andhra Pradesh — are keen to bring additional area under the oilseed. The scenario in Madhya Pradesh is also set to remain positive, albeit marginally. Madhya Pradesh is the largest grower of in the country.

The increase would translate into proportionate growth in output, thereby, providing relief to the domestic crushing industry. Oilseed crushing mills have been operating at lower than capacity levels for the past few years due to negative parity. Apparently, higher production of oilseeds like will intensify crushing in domestic As a consequence, the output of oil will increase, reducing reliance on imports. India imports 55-60 per cent of its vegetable oils, largely palm oil, for blending with soybean, sunflower and other oils, from major world producers, such as Indonesia, Argentina and Malaysia. Total output was recorded at 10.5 million tonnes last year.

B V Mehta, executive director of Mumbai-based Solvent Extractors Association, said, “Farmers received good returns last year, which will definitely lure them to bring additional area under price for near-month delivery on the National Commodity & Derivatives Exchange rose 43 per cent in the past year from Rs 2,444 a quintal to the current Rs 3,506 a quintal.

is sown with the onset of monsoon in June till July. The harvesting starts in October and continues till December.

First Published: Thu, April 26 2012. 00:01 IST
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