India reduced the import purchases of soybean oil

06.09.2016

Import of soybean oil in the 2016/17 season will be below the peak level of the current season

According to estimates of the USDA attaché in the 2016/17 season (October-September) the farmers of India will gather around 11.5 million tons of soybeans (7 million tonnes in the 2015/16 season).

According to the latest report of the Ministry of agriculture of India, during the current planting season, farmers planted already 11.3 million ha (planted areas in the 2015/16 11.6 million ha) and assessment of the area will be higher than last year at the end of the planting season. Due to sufficient rainfall, the soybean yields will exceed the average five-year value.

Estimate imports of soybean oil in the 2015/16 season was increased to 4.3 million tons, a new record for the country, but in 2016/17, experts expect the decline in imports to 3.4 million tons and increase its own production of soy oil in India to 1.5 million tons (980 thousand tonnes in 2015/16


Agro2b

Readers choice: TOP-5 articles of the month by UkrAgroConsult