May 1, 2008

India's soy output to rise on increased farmer interest

India's soy production in the coming season, sowing for which will start in July, could rise above 10 million tonnes as higher profits last year have led to increased farmer interest in the commodity, a senior industry official said Wednesday (April 30, 2008).

For the current crop year ending June, the country's federal government had projected record output of 9.43 million tonnes.

More farmer are cultivating soy, especially in the border areas of the major growing province of Madhya Pradesh and Rajasthan, Kanubhai Thakkar, managing director of Gokul Refoils & Solvent Ltd noted. The company is India's third largest solvent extractor and a leading edible oil manufacturer in the country. 

India's oilmeal exports in the current marketing year ending September are likely to be 1.20 million tonnes higher than last year's 4.99 million tonnes, he added.