India’s soybean production for MY 2021/22 has fallen short due to delayed monsoons impacting harvests.
In its latest post, soybean production was revised to 10.8mt from 11.2mt. Madhya Pradesh, India’s main soy growing area, reports 10% less area planted due to weather conditions.
Soybean planted area as of August 5, 2021. The area under soybean cultivation in India has been below expectations in 2021 as main producing regions combat harsh weather conditions.
Lower soy output would also impact soybean meal production with figures being revised to 7.68mt from 7.76mt in MY2021/22. Domestic soybean prices thus remain elevated, prompting the USDA to lower India’s export figure in MY2021/22 to 200,000 tons from 250,000 tons.
The Indian government has also allowed for the import of 1.2mt of GM soybean meal and de-oiled cake to meet the shortfall this year. They are expected to arrive in the country by October 31.