Commodity Alert: Soybean output to decline by 24% on lower acreage, crop damage: SOPA
The latest survey by the apex industry body, the Soybean Processors' Association (SOPA), estimates India's soybean output at 8.35 million tonnes for the harvesting season 2017-18, about 24 per cent lower than 10.9 million tonnes reported in the previous year. SOPA earlier had estimated India's soybean output at 9.15 million tonnes in its first survey in October. In contrast, the Union Ministry of Agriculture has pegged India's total soybean output at 12.22 million tonnes in its first advanced estimate for the season 2017-18, down from 13.79 million tonnes in its fourth advanced estimate for 2016-17. SOPA also estimates India's soybean meal exports at 1.25 million tonnes for financial year 2017-18 compared to 2 million tonnes reported for the previous year.
(Impact :Positive for Soyabean)
Source: Business Standard
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