The 2024/25 US oilseed production forecast is 131.2 million tons, slightly higher due to higher cottonseed production. Soybean supply and usage projections remain stable, while soybean oil production rises due to a higher extraction rate. Export projections for soybean oil are raised by 500 million pounds, reaching 1.1 billion pounds, supported by strong export commitments….
Soybean procurement under the Price Support Scheme (PSS) has been significantly lower, accounting for only 2.6% of the sanctioned 32.24 lakh tonnes (LT) as on November 18. Market prices are lower than the Minimum Support Price (MSP), reducing farmers’ incomes. Soybean procurement, as mentioned above, has been marginally slower, reaching only 2.6% of the sanctioned…
According to the agriculture ministry, India’s foodgrain production reached a record 332.22 million tonnes in the 2023-24 crop year, driven by strong wheat and rice production. The final estimate for 2023-24 shows an increase of 2.61 million tonnes from the previous year’s 329.6 million tonnes. Rice production reached a record 137.82 million tonnes, up from…
Food grain production in the nation is expected to be roughly 154.19 million tonnes during the kharif season and 155.12 million tonnes during the rabi season in 2023–2024, according to government estimates released on Thursday. The output of Kharif rice is projected to be 111.46 million tonnes, according to the Ministry of Agriculture and Farmers’…
The prediction for U.S. soybeans in 2023–2024 predicts lower ending stockpiles and slower exports as a result of weak shipments and intense competition with Brazil. In comparison to earlier projections, the soybean outlook for the 2023–2024 season in the United States points to a decline in soybean exports and a rise in ending stockpiles. In…
In order to guarantee sufficient supply of molasses for regional ethanol manufacturers, the government on Tuesday declared a 50% export charge on the commodity. Additionally, the import duties on edible oils were prolonged by an additional year. The current import levy on refined and crude edible oils, such as sunflower, soy, and palm, has been…
An all-time high of 13.14 million tonne (MT) of mustard seed is expected to be produced in the 2023–24 season thanks to record sowing this season, which will increase domestic edible oil supply. A reassessment of the import tariff relief for food oils such as palm, soybean, and sunflower may be required by this. The…
The price of mustard seeds declined significantly during the last week, dropping by more than 3% to settle at levels of 5368. This was mostly brought on by negative elements such as higher carryforward stock, bumper crops, more arrivals, and higher imports of edible oil. In comparison to the typical level of 1.5–1.8 MMT, the…
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…
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…
