Browse Data and Analysis

India’s soybean, peanut, and sunflowerseed production for marketing year (MY) 2022/23 (October-September) is estimated at 11.1 million metric tons (MMT), 6.65 MMT, and 200,000 metric tons, respectively, reflecting heavy late season rainfall in September and October that impacted yields and crop quality.

On larger than expected production loss related Indonesia’s palm oil export ban policy, Post revises down Indonesia palm oil production to 44.7 million ton (MMT) for 2022/23 and updates 2021/22 production to 43.2 MMT. Soybean imports for 2022/23 are forecast at 2.6 MMT on continued demand from tofu and tempeh producers.

Due to uncertainty regarding policy on imported soybeans, the 2022/23 soybean import forecast is reduced from 2.5 to 2.2 million tons. Due to the lower expected soybean imports, 2022/23 crush and soybean meal output is reduced accordingly. Reflecting continued decline in consumer purchasing power due to record level inflation, the forecast for 2022/23 palm oil imports is also reduced.