India: Oilseeds and Products Update

The soybean production estimate for marketing year (MY) 2019/20 (Oct-Sept) is revised lower to 9 million metric tons (MMT) on 11.3 million hectares to indicate poor yield due to weather-induced stress during the peak reproductive and maturity stage. By contrast, peanut production in MY 2019/20 will rise 20 percent to 6.8 MMT on 4.9 million hectares. The last planting report for kharif2019 from Ministry of Agriculture (MinAg), government of India (GOI) showed a slight uptick in planted area across all major producing regions. This, coupled with better peanut production prospect from Gujarat, will improve the production outlook. On the trade side, oil meal exports in MY 2018/19 settled at 2.7 MMT, and edible oil imports dropped 2 percent to 14.1 MMT.

India: Oilseeds and Products Update