Sowing of soyabean is in full swing in the key growing areas of Central India with the pick up in monsoon rains over the region.
As per the latest sowing figures released by the Soyabean Processors Association of India (SOPA), the oilseed has been planted in over 70 lakh hectares(lh) across the country. With brisk sowing taking place in key States like Madhya Pradesh, Maharashtra and Rajasthan, SOPA expects the acreages to be same or exceed last year’s levels. Soyabean was planted in about 120 lh last kharif.
As on July 6, soyabean has been planted in about 30.50 lh in Madhya Pradesh, 26 lh in Maharasthra, 7 lh in Rajasthan, 2.60 lh in Telangana, 2.37 lh in Karnataka and about 1 lh in Gujarat. The oilseed has been planted in about 0.14 lh in Chhatisgarh and 0.46 lh in other States. “Sowing is in progress in full swing and we are confident of reaching near last year’s figures or even a little higher, depending on how the rains progress. The next five days are crucial,” SOPA’s executive director D N Pathak said.
There are enough seeds, enough fertiliser and other inputs. “There’s absolutely no issue as a far as the availability of inputs are concerned,” Pathak said.
Madhya Pradesh, Maharashtra and Rajasthan account for 91 per cent of the soyabean acreages in the country. As per the IMD data, in MP, cumulative seasonal rainfall this monsoon till date has been deficient in 20 districts, normal in 18 districts, excess in 13 and largely excess in one district. Similarly, in Maharashtra cumulative rains have been deficient in 8 districts, while the precipitation has been normal in 23 and excess in five districts. In Rajasthan, rainfall has been large excess in 9 districts, excess in 12 districts, normal in eight and deficient in four districts.
Prices
The Centre has declared a minimum support price(MSP) of ₹4,300 per quintal for soyabean. The market prices of soyabean are ruling between ₹6,200-6,500 levels, about 50 per cent higher than the MSP. The soyabean prices have softened a bit in the recent months following the global trend.
The global prices of edible oils, which flared up with the outbreak of Russia-Ukraine war have now fallen by 30-35 per cent. The decline in global edible oil prices will have an impact on the soyabean prices in India, Pathak said. “We are having huge carryover stocks. The farmer was holding the stocks till the sowing takes place and now I expect these soyabeans to come into the market at a good price,” Pathak said.