Soybean output may fall 10% this season

India may produce 10 per cent less soybean this season at 9.72 million tonnes despite rise in sowing areas, as late rain is expected to hit the yield of the crop, according to an estimate by industry body SOPA.

“The estimated national production of soybean during this year (October 2009-September 2010) would be 9.72 million tonnes, compared with that of 10.82 million tonnes in the last season,” Indore-based Soybean Processors Association (SOPA) said in a statement today.

It may, however, be mentioned that the industry body’s estimate of soybean output for the last season was higher than the government figure of 9.9 million tonnes.

SOPA said late monsoon has affected the productivity of the soybean crop, more than offsetting the rise in areas under it. “Due to late arrival of monsoon and resultant late planting, the national productivity of soybean is estimated to be Rs 1,006 kg a hectare against Rs 1,124 kg in the last season,” the industry body said. Soybean acreage has gone up marginally this season to 9.67 million hectares, compared with 9.62 million hectares in 2008-09.

Futures show mix trend
Soybean futures prices witnessed a mixed trend today by losing 0.32 per cent on fresh arrivals in spot markets. Marketmen said arrival of new crops in spot markets, mainly put weight on traders to reduced their positions.