India: Oilseeds and Products Update

Assuming normal growing conditions through September, soybean production in marketing year (MY) 2016/17 (Oct-Sept) is estimated at 11.5 million metric tons (MMT). The most recent planting report from the Ministry of Agriculture (MinAg) indicates that soybeans were planted on 11.3 million hectares; future MinAg reports will likely reflect an increase in the area planted. Due to a return to the normal monsoon rainfall, soybean yields are expected to increase to the 5-year average. The estimated soybean oil imports in MY 2015/16 are raised to 4.3 MMT, which is the highest in the last decade. On the contrary, oilmeal exports are estimated at a historic low of 450,000 metric tons.

India: Oilseeds and Products Update