May 24, 2007
 

USDA: India's 2007/2008 oilseeds revised forecast up by 32.2 million tonnes

The United States Department of Agriculture, in its India Oilseeds and Products Annual 2007, reports Indian total oilseeds production (soybean, peanut, rapeseed/mustard, sunflower, cottonseed & copra) projections for marketing year (MY) 2007/2008 has been adjusted upward to 32.2 million tonnes on good weather conditions.  

Oilseed consumption for MY 2007/2008 is also seen at 31.7 million tonnes compared to 30.4 million tonnes in MY 2006/2007 with more than eighty percent for crushing, according to the report.

On the other hand, total oilmeal production for this season is predicted to reach 14.8 million tonnes, posting a 5 percent increase from MY 2006/2007 production. Higher soybean output and large stockpile of mustard is seen to alleviate the anticipated lower production and thus would be minimal impact on the overall oilmeal production.

The report also noted Indian oilmeal exports have posted a 12 percent increase in the first seven months of MY 2006/2007 as soybean meal and rapeseed meal are the two largest oilmeals exported due to its price competitiveness, high protein content (soybean), free from genetic modification and shorter shipping time.

Meanwhile, edible oil production for MY 2007/2008 is seen to rise to 6.9 million tonnes because of expected bigger crush availability of rapeseed, soybean and cottonseed. Edible oil consumption for this season is pegged at 11.8 million tonnes with imports accounting for 41 percent.

For the full USDA report, please click here.