India has lowered soybean estimates due to delayed and erratic rains

[caption id="attachment_8633" align="aligncenter" width="1014"] File Photo[/caption] Due to late and erratic rains, soybean production in India is projected to decline in 2021/22. The U.S. Department of Agriculture (USDA) Foreign Agricultural Service (FAS) report said this. However, production totals were still slightly higher than last season, according to the 9 September report. Production was estimated at 10.8M tonnes, up from 10.45M tonnes the previous year, the report said. The soyabean planted area in Madhya Pradesh was 10% lower compared with the same period in the previous year, while the national average yield was estimated at 0.885 tonnes/ha, slightly below last year’s level but close to the five-year average. Domestic soyabean market prices had rallied above the minimum support price (MSP), peaking above US$1,344/tonne in mid-July, the report said. As a result, the FAS had revised its export estimates for 2020/21 to 100,000 tonnes, and the 2021/22 export forecast lowered to 200,000 tonnes to account for the lack of competitiveness of Indian soyabeans in the global market. Source: Online/KSU