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Soybean output to jump at least 15% as farmers expand area on ample rains

It could also revive Indian exports of animal feed ingredient soymeal to places such as Bangladesh, Japan, Vietnam and Iran

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India raised the minimum buying price for soybean by 4.6% from a year earlier to 3,880 rupees per 100 kg

2 min read Last Updated : Jul 15 2020 | 5:50 PM IST

India's soybean production is set to jump by at least 15% in 2020 from a year earlier as farmers are increasing the oilseed's acreage due to timely arrival of monsoon rains and as New Delhi raised the minimum buying price.

Increased production of India's main summer-sown oilseed could help the world's biggest vegetable oil importer trim costly purchases of palm oil, soyoil and sunflower oil from Indonesia, Malaysia, Argentina and Ukraine.

It could also revive Indian exports of animal feed ingredient soymeal to places such as Bangladesh, Japan, Vietnam and Iran.

"Farmers are expanding area. If monsoon remains good, I am expecting at

Topics : Soybean output farmers Monsoon

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