India: Oilseeds and Products Update

Due to an expectation of relatively higher yields supported by normal precipitation across central India, Post’s preliminary kharif (fall harvested) crop assessment indicates soybean production to be 11.5 million metric tons (MMT) in marketing year (MY) 2018/19 (October-September) on 11.2 million hectares. In contrast, an extended dry spell in Gujarat, particularly during peak planting time, has lowered total peanut production and area outlook to 6 million metric tons (MMT) in MY 2018/19 on 4.4 million hectares. The estimated production is nearly 12 percent below last year. In addition, a higher import duty on vegetable oils, coupled with a 6 percent depreciation of the Indian rupee since October 2017, will limit total imports in MY 2017/18 to 15.1 MMT. Indian oilmeal export sales have marginally increased to 2.4 MMT. 

India: Oilseeds and Products Update