India's Soybean output likely to drop in 2017

India Infoline News Service | Mumbai | October 12, 2017 19:00 IST

The global Soybean production is likely to reach a record level during 2017, which is 348.44 million tonnes against 351.44 million tonnes last year.

Pulses
It is expected that the Global Soybean production is likely to increase to reach a record level during 2017, which is 348.44 million tonnes against 351.44 million tonnes last year. However, India's domestic output may be less than 9.1 MT against 11.5 MT compared to last year.
 
As per the recent survey from the plant owners, the demand for the Indian meals have been shrinking every year.
 
India imports almost 70 percent of edible oil for domestic use, hence the farmers are not getting good value for their produce, which forces them to produce less Soybean every year to avoid loss from their farm.
 
The industry owners and farmers have argued for help from the government to impose heavy import duty on the edible oil to safeguard the farmers and industry owners which will help them to increase the production. Farmers and industry owners are awaiting for government support.

 

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