March 11, 2004

India's 2003-04 Soybean Estimate Up

India's 2003/04 soybean production is estimated at 6.8 million tons, up 0.6 million tons or 10% from last month and up 2.8 million or 70% from last year. This current estimate exceeds the previous production record of 6.0 million tons set in 1998/99 resulting from the previous record area of 6.35 million hectares, the U.S. Department of Agriculture said Wednesday in its March "World Agricultural Production" outlook.
 
The current year soybean area is estimated at 6.45 million hectares, unchanged from last month, but up 0.78 million or 14% from last year's drought-reduced crop.
 
In October 2003, the Indian Meteorological Department said that the 2003 Southwest Monsoon was favorable. The IMD determined that India received 102 percent of normal precipitation for the period June 1-September 30, 2003, the USDA said.
 
Indian soybean industry contacts report ample crushing supplies as evidence of the high production level. Virtually all of India's soybean production occurs during the Kharif season. Kharif soybean planting occurs June-July followed by harvest in Sep-Oct.