Soybean production thiskharif is expected to be at record high

Soybean production this kharif season is expected to be at a record high of 10.5 million tonnes to 11 million tonnes, and arrivals are expected to reach its peak in mid-October.

Ruchi Group of Industries is expecting to ship about 1.7-1.8 million tonnes soya meal compared to 1.5 million tonnes last year.
“We are expecting this rise in exports mainly due to higher global demand as the crops in South America was affected following drought,” said DInesh Sahara, MD of Ruchi Group of Industries.
 
The late rainfall did not have any major impact either on the crop yield or the size and this will boost the overall soya bean meal exports to about 5 million tonnes this crop year (October-September) from 4.5 million tonnes last year.
 
Rape seed or mustard crop is also likely to be 10-15% higher than last year at about 6.5 million tonnes in this season mainly due to good rainfall and better soil condition in the producing areas
 
Last year the over all mustard output stood at 5.34 million tonnes.
"Decline in production of groundnut and cotton seed, import is likely to be at 9.8 million tonne this oil year (November-October), which is yet to end," Sahara added.
 
Ruchi Group of Industries is also expecting a rise a 15% growth in revenue on the back of higher crushing, better margins and growth in soy meal exports.
 
“We are expecting 10-15% growth in sales this fiscal year mainly on account of  higher crushing, better margins through product innovations and increase in branded sales. Rise in soya meal exports will also help in boosting our revenue,” Sahara said.
 
In FY 12, the company's revenue stood at Rs 26,000 crore.