Prices halved from the top amid a sharp bang after a record rally in soybeans

- Ubhi Bazar ઃ Dilip Shah

- Soymeal imports and soybean new arrivals hit the market head-on

Peanuts, sesame, castor, cottonseed etc. were specially produced in the production of oilseeds in the country years ago and in the meanwhile domestic oil, cottonseed oil, sesame oil, coprale etc. were produced domestically. Edible oils were mainly used. However, then home-grown palm oil, soyoil oil, sunflower oil vs. Consumption of imported edible oils has also increased with the increase in imports. Meanwhile, the area under domestic soybean cultivation has also increased and this has led to an increase in consumption of soybean and soybean oil in the country, market sources said. The soybean crop was mostly grown in Madhya Pradesh during this period and then the area under soybean cultivation has also increased in Maharashtra, market experts added. Apart from this, the area under sunflower cultivation in the country has also increased and now the Central Government has formulated an ambitious plan to increase domestic cultivation of palm oil and reduce the dependence on imports by increasing the production of palm oil in the country. However, even before this, the government had made efforts to increase palm cultivation in the country and now with the resumption of efforts in this direction, the market is keeping an eye on how successful these efforts are. The country currently imports palm oil mainly from Malaysia and Indonesia while soybean oil is imported from Brazil, Argentina, USA etc. Is made from. Imports of Sunflower Russia, Ukraine v. Occurs from. Soybean production in the world market is mainly in Brazil, Argentina and the United States.

Meanwhile, soybean crop (production) in India is estimated to be around 12 per cent to around 115 lakh tonnes recently. The Madhya Pradesh-based Soybean Processors Association (SOPA) represents the Indian soybean market and according to the association, the country's soybean crop is expected to grow by 15 to 18 per cent this year. The area under soybean cultivation in the country has increased and productivity per hectare has also increased, the sources said. This year, the area under soybean cultivation in the country has increased to about 115 to 120 lakh hectares, while government sources put the estimate at 15 to 18 lakh hectares. The country's soybean production is estimated at 115 lakh tonnes this year as against 103 lakh to 104 lakh tonnes last year. Meanwhile, soybean production per hectare in the country has increased from 5 kg during this period to around 21 kg this year. Soybean is harvested in the country during the kharif season. This year, before the recent arrival of new soybean arrivals in the country, there was a shortage of supplies due to old fodder and prices skyrocketed to a record high of Rs 10,000 in Kiev. A similar situation was also created. However, the tide has turned and the market price has come down sharply from a high, market sources said. In the country, soybean crop in Madhya Pradesh is expected to be around 3 to 4 lakh tonnes this year and in Maharashtra, it is expected to be around 3 to 4 lakh tonnes. Last year, the crop was around 21 to 3 lakh tonnes in Madhya Pradesh and about 4 to 5 lakh tonnes in Maharashtra. The recent sharp rise in soybean futures has forced margins to increase. The government has recently imposed restrictions on mustard seed futures. Soybean prices, which had recently touched a high of Rs 10,000 per kg, have halved since then. The boom has started since the Indian government allowed the import of 1.2 million tonnes of GM soymeal, and there have been indications of increased pressure on market prices as producers have started importing new soybeans and revenue has recently picked up. Farmers are now showing resentment over falling prices. Recently, the average daily income of soybean in the country has increased from six and a half to seven lakh times. The establishments have seen prices as low as Rs 5,000.