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Area sown with soybeans in India may increase 10% in 2021 due to high prices

Soybean
India
Published May 19, 2021

Original content

By Rajendra Jadhav MUMBAI (Reuters) - Farmers in India may expand the area sown with soybeans by more than 10% in 2021, as record oilseed prices would encourage some to stop growing cotton and vegetables, according to industry officials. The increase in summer soybean production in India could help the world's largest importer of vegetable oil to decrease costly purchases of palm, soybean and sunflower oil from Indonesia, Malaysia, Argentina and Ukraine. “Farmers have achieved exceptionally good prices this year. The area for soybeans could increase between 10% and 12% ”, said Davish Jain, president of the Soy Processors Association of India. Local soybean prices have more than doubled since the beginning of the 2020/21 season on October 1, and last month reached a historic high of 8,100 rupees ($ 111) per 100 kg, due to a sharp increase in the export of bran. Soy. “Soy production depends on the rain. If monsoon rains arrive in time and the climate continues to be ...
Source: Mixvale
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