89.50 lakh tonnes of soybean arrived in domestic markets in eight months

12-Jun-2024 08:24 PM

Indore. The latest data of Soybean Processors Association of India (SOPA), an important organization of the indigenous edible oil industry, shows that in the first eight months of the current marketing season,

a total of 89.50 lakh tonnes of soybean arrived in the country's markets, which was slightly less than the supply of 91 lakh tonnes in the same period of the previous season.

As compared to the 2022-23 season, during the 2023-24 season, the arrival of soybean increased from 17 lakh tonnes to 20 lakh tonnes in October and remained at the same level of 20 lakh tonnes in November. In December, it fell from 13 lakh tonnes to 12 lakh tonnes,

slipped from 11 lakh tonnes to 10 lakh tonnes in January and declined from 10 lakh tonnes to 8 lakh tonnes in February. In March, it improved from 6 lakh tonnes to 7 lakh tonnes, but in April it came down from 7 lakh tonnes to 5 lakh tonnes.

In May, soybean arrivals improved from 7 lakh tonnes to 7.50 lakh tonnes. According to SOPA, in the marketing season 2023-24, with a previous outstanding stock of 24.07 lakh tonnes, production of 118.74 lakh tonnes and potential imports of 6 lakh tonnes,

the total availability of soybean is estimated to reach 148.81 lakh tonnes. Out of this, a stock of 13 lakh tonnes was kept for the next sowing and the remaining stock of 135.81 lakh tonnes was available for other consumption. Out of this,

after the arrival of 89.50 lakh tonnes, a stock of 45.71 lakh tonnes was left with farmers, traders and millers on June 1.

It is worth noting that out of this total arrival of 89.50 lakh tonnes, 86.50 lakh tonnes of soybean was crushed, which produced 68.26 lakh tonnes of soymeal. Out of this, 16.41 lakh tonnes of soymeal was exported and 50.95 lakh tonnes was used domestically.