During the first three months of the oil year 2023–24, beginning in October, soya bean offtake by the domestic feed and food sector has been slow. The feed sector consumed 18.5 lakh tones (lt) during the October–December period, according to the most recent figures provided by the Soybean Processors Association of India (SOPA). This is…
On the basis of improved yields, the Soyabean Processors Association of India (SOPA) has increased the harvest forecasts for the Kharif 2022 crop to 124.11 lakh tonnes. Earlier, it estimated the yield to be 120.39 lakh tonnes (lt). The upward revision was due to greater yields, which are now at 1,051 kg per hectare compared…
The first half of the oil year 2022–23, which began in October, saw a 110 percent increase in soya meal and valueadded soya product exports. This was mostly due to large purchases made by Vietnam and its neighbors Bangladesh and Nepal. According to the Soybean Processors Association of India (SOPA), the shipment of meals increased…
The industry anticipates that soya meal shipments would more than double to 14 lakh tonnes (lt) in the current oil season (October 2022–September 2023) due to the recovery in demand for Indian soya meal, particularly from SouthEast Asian and Far Eastern countries. Exports of soya meals are off to a good start. Shipments climbed by…
In the current oil year 2022–23, which begins in October, soybean crushing in the nation is anticipated to climb by roughly a fifth to 100 lakh tonnes (lt), compared to 84 lt in the previous season, due to greater availability of the oilseed due to higher output and carryover stockpiles. The Soyabean Oil Processors Association…
On the strength of robust demand from crushing operations, traders, and stockists, soyabean prices, which were in a bearish mode until October’s end, have now reversed the trend. The government’s recent decision to relax the restrictions on edible oils and oilseed stock limits by exempting large chain retailers and wholesalers from the stock control order…
The Kharif 2022 crop has been estimated by the Soyabean Processors Association of India (SOPA), the leading trade organization for the industry, at 120.39 lakh tonnes (lt), up from 118.89 lt in the prior year. The Ministry of Agriculture’s initial advance estimates of 128.92 lt is lower than SOPA’s projections for the crop. Despite a…
Palm oil continued in a downward direction with its prices dropping to a near 13-month low as leading producers, Malaysia and Indonesia struggled with rising production amidst low export demand. On Bursa Malaysia Derivative Exchange, crude palm oil for delivery in October ruled at 3,646 Malaysian ringgit (MYR) a tonne ($818.68), the lowest since June…
The Soybean Processors Association of India (SOPA) has urged the Union government to gradually roll back the exemption of customs duty on edible oils to stem the falling domestic prices of soybean. The fall in edible oil prices has also contributed to a substantial fall in soybean prices in the domestic market. In a letter…
