India’s oilseed sector is experiencing significant changes due to production estimates, trade dynamics, and global policies. The government predicts a record soybean output of 15.1 million tonnes for 2024-25, while industry estimates are lower at 12.6 million tonnes due to reduced sowing.
The government has increased MSP procurement under the Price Support Scheme to stabilize prices, purchasing 3.5 million tonnes of soybean and groundnut. Oilmeal exports declined 12% YoY from April to February, while soybean meal exports remained steady.
Global soybean output is projected to rise 6.5% to 420.8 million tonnes in 2024-25. Domestic edible oil prices are expected to remain firm despite global supply growth.
The government’s intervention under the Price Support Scheme has led to procuring 2 million tonnes of soybeans and 1.5 million tonnes of groundnut, with expectations of over 6 million tonnes of oilseeds to be purchased.
