October 31, 2006

India hikes 2006 soybean output estimate to 8.13 million tonnes

India Monday (Oct 30) raised the production estimate of its 2006 soybean crop, which is currently being harvested, by 284,000 tonnes to 8.13 million tonnes.

This marks the second upward revision in 2006 soybean output estimate this year, and is only marginally lower than the all-time-high of 8.35 million tonnes produced in 2005.

Last week, the 2006 output estimate for soybean was raised to 7.84 million tonnes from 7.54 million tonnes estimated in September.

2006 is the second straight year that India's soybean output is projected to cross 8.0 million tonnes.