June 18, 2008

India soy output to grow by 15 percent on favourable weather

Indian soy output in 2008 is expected to improve by 15 percent or 1.5 million tonnes, against last year's 9.5-10.0 million tonnes due to favourable monsoon rains, a trader said Tuesday (June 16, 2008).

The good monsoon will allow timely sowing of Indian soy, Govindbhai Patel, a top oilseeds trader from western Gujarat state, said.

Patel also projected for a higher soy planting area this year as some farmers prefer it over sugarcane in western Maharashtra state.