India: Oilseeds and Products Update

Assuming normal weather conditions through harvest, India is expected to produce 7.5 million metric tons (MMT) of rapeseed and mustard in marketing year (MY) 2019/20 (October-September) from 6.9 million hectares. Although it is too early to make accurate yield estimates, favorable weather conditions, improved agronomic practices, and absence of biotic stress should favor yields above average. On commerce: poor soymeal export sales in MY 2019/20 will limit total oil meal exports, which are now forecast at 2.5 MMT against Post’s initial forecast of 3.2 MMT. Also, edible oil imports are revised down to 16 MMT (still 13 percent above last year) to indicate slightly lower than anticipated palm oil imports.

India: Oilseeds and Products Update