October 22, 2013

India's 2013-14 soy harvest may decline 4.4% on-year

India's 2013-14 soy production is likely to fall by 4.4% from 2012, at 10.23 million tonnes, due to  crops damaged by heavy rainfall during the harvest season.

"Inspite of sizable increase in area under soy, the crop is lower than last year due to extensive damage both in terms of quality and quantity, caused by heavy rainfall during end-September and early October, at the time of harvesting," the Central Organisation for Oil Industry and Trade said.

As of October 4, soys were cultivated on 12.22 million hectares compared with 10.68 million hectares a year earlier, farm ministry data showed. Soy is the main summer-sown oilseed crop in India. The country's edible oils imports and soymeal exports have been mostly influenced by soy output.