Soyabean planting in the key state of Madhya Pradesh has gained momentum with the monsoon advancing over Central India in the last two days. Farmers are expected to plant the oilseed in additional area of five to six lakh hectares as prices have firmed up on concerns over global supplies.
“The sowing has picked up in past two days and we expect it to be complete by July 15,” said Mr Rajesh Aggarwal, spokesperson for the Soyabean Processors Association of India (SOPA). According to early estimates, the oilseed has been planted in about five lakh ha in MP, he said.
Soyabean prices have seen a rise in recent weeks on concerns over dry weather in the US impacting its output. Back home, soyabean futures for delivery on July 20, 2012 gained 2.53 per cent to Rs 4,159 a quintal on NCDEX. The contracts for delivery on August 17 ended 2.35 per cent, up at Rs 4,184 a quintal.
Madhya Pradesh is the largest soyabean producer, accounting for over half the country’s acreage under the commodity. Last year, MP’s soyabean acreage stood at around 56 lakh ha of the country’s total area of 103 lakh ha.
SOPA expects the acreage expansion to also take place in Maharashtra, Gujarat, Andhra Pradesh, Karnataka, parts of West Rajasthan and Chhattisgarh, where farmers may switch over from cotton to soyabean.
“The acreage could go up by 2-3 lakh ha this year in Madhya Pradesh as the prices are good,” said Mr M.M Upadhyaya, MP’s Agriculture Production Commissioner. The State has arranged for distribution of 20 lakh tonnes of certified seeds of soyabean including the late sown varieties.
The advancement of monsoon in the past two days, despite a delay of 10-12 days, should aid the sowing process, Mr Upadhyaya said. Kharif crops in the State including paddy, pulses and soyabean, have been planted in about 10 lakh ha so far.