India: Oilseeds and Products Update

Estimated soybean production for marketing year (MY) 2019/20 (Oct.-Sept.) is revised lower to 10.5 million metric tons (MMT) on 11.2 million hectares. The national average yield will settle below last year’s level due to concerns over prevailing weather conditions. After discounting availability of soybeans and considering strong domestic demand for animal feed (soymeal), the out-year oilmeal export forecast is lowered 6.2 percent to 3 MMT. Additionally, after remaining flat for the last two years, out-year edible oil imports will grow 12 percent to 16.4 MMT.  

India: Oilseeds and Products Update