India most likely to import 64% less soyabean; nil soyabean meal in FY23: SOPA

India’s soyabean import is pegged lower by 64 percent at 2 lakh tonnes in the 2022-23 season on potential customers of greater domestic production, market body SOPA stated on Wednesday.
The nation had actually imported 5.55 lakh tonnes of soyabean throughout the 2021-22 season (October-September), it stated.
According to the Soybean Processors Association of India (SOPA), the domestic production of soyabean is approximated to increase to 120.40 lakh tonnes in the 2022-23 season when compared to 118.89 lakh tonnes last season.
Even the carry-over stock stays greater at 25.15 lakh tonnes as versus 1.83 lakh tonnes in the previous year.
The overall accessibility of soyabean is approximated at 147.55 lakh tonnes this season, greater than 126.27 lakh tonnes in the previous season, the market body stated in a declaration.
Out of the overall soyabean, about 100 lakh tonnes would be readily available for squashing this season as versus 84 lakh tonnes in the previous 2021-22 season.
About 13 lakh tonnes are approximated to be maintained for sowing, 4 lakh tonnes for direct usage and about 1 lakh tonnes for export in the existing season, it included.
As on November 1, 124.05 lakh tonnes of soyabean stock was with farmers, traders and plants.
In case of soyabean meal (utilized as animal feed), the nation’s import pegged at absolutely no this season from 6.45 lakh tonnes in the 2021-22 season, while exports are anticipated to increase to 82 lakh tonnes as versus 73 lakh tonnes in the stated duration.
Total soyabean meal production is pegged greater at 79.82 lakh tonnes throughout the 2022-23 season, as versus 67.05 lakh tonnes in the previous season, SOPA included. (This story has actually not been modified by Business Standard personnel and is auto-generated from a syndicated feed.)
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