Increase in soybean acreage likely to boost output by 30% this year

Barring a few, soybean prices moved above the MSP almost throughout the year

In a major relief to the government and farmers alike, India’s soybean output is likely to rise by a staggering 30 per cent this year, on an increase in acreage as well as favourable agro-climatic condition.

Data compiled by the United States Department of Agriculture (USDA) showed India’s soybean output at 11 million tonnes this year. The world’s premier agriculture output forecasting agency had earlier estimated India’s overall soybean output at 10.3 million tonnes.

The global agency was perhaps prompted to revise its soybean output estimates upwards primarily on supportive agro climatic condition in major producing states including Madhya Pradesh, parts of