Commodity Outlook – Soybean

Sowing period: June to July
Harvesting period: October to November
Crop season: Kharif

Key growing regions:

  1. Madhya Pradesh – Sehore, Raisen, Bhopal, Vidisha, Sagar, Guna, Harda, Hoshangabad, Betul
  2. Maharashtra – Buldhana, Latur, Amravati, Yavatmal, Washim, Nanded, Akola, Hingoli
  3. Rajasthan – Kota, Bundi, Baran, Pratapgarh, Jhalawar, Banswara, Chittorgarh, Tonk
  4. Karnataka – Belgaum, Bidar, Dharwad, Haveri

Production trend and Stock position:

  • According to Ministry of Agriculture, the sowing acreage of Soybean as on September 18, 2020 was 121.21 lakh hectares (lh) up by 6.88 percent compared to 113.41 lh during the corresponding period.
  • As per the Ministry of Agriculture first advance estimate released on September 22, 2020, Soybean production for FY 2020-21 was 122.15 lakh metric tonne (LMT) compared to FY 2019- 20 which was 135.83 LMT, up by 21.11 percent
  • Soybean arrivals surged in the mandis of Madhya Pradesh after the traders’ body called-off the strike after Madhya Pradesh government agreed to their demand to slash the mandi fee on the purchase of agriculture produce to 0.5 from 1.5 percent earlier.
  • Stock positions of Soybean were up by 814.72 percent held at National Commodity Clearing Limited (NCCL) approved warehouses at Akola, Indore, Kota and Latur locations. The stocks held as on October 27, 2020 was 21,496 MT compared to 2,350 MT as on September 27, 2020.

Monsoon Update

For the country as a whole, Seasonal cumulative rainfall during this year’s southwest monsoon season upto October 21, 2020 was above Long Period Average (LPA) by 10%. Details of the rainfall distribution over the four broad geographical regions of India are given below:

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