July 30, 2010

India may reap more soy amid rainfall

India's soy output is projected to be higher this year as the acreage under soy cultivation has increased due to the timely rainfall, said the Soy Processors Association of India (SOPA).

According to SOPA, the acreage under soy cultivation across the country will not fall below 90 lakh hectares this kharif season.

Earlier, SOPA had expressed fears that the total area under soy cultivation in the country would drop by 7% this year from 96.71 lakh hectares last year. However, it now said that if the monsoon remained active, this gap could be narrowed.

Meanwhile, USDA reported that Pakistan is expected to import 3.60 lakh tonnes of soymeal from India this year to meet its growing demand for high protein feed in the livestock and poultry sector.