August 1, 2008

India 2008 soy crop may top '07 record of 10 million tonnes

India's 2008 soy crop may top last year's record crop of 10 million tonnes, an industry executive said Thursday (July 31).

"The rains this week have come as a boon for the soy crop in Madhya Pradesh and Maharashtra states and this augurs well for the crop," said Rajesh Agrawal, a current member and past chairman of the Soy Processors Association of India.

He added the crop may exceed or at the very least equal last year's crop.

India's soy crop was in a critical state in the last two weeks after scant rains in the key growing states of Maharashtra and Madhya Pradesh raised concerns of a fall in output and yield.

Agrawal said the country's soy crop acreage could reach 9 million hectares this year, compared with around 8 million hectares last year. Sowing of the crop will mostly conclude over the weekend.

However, Agrawal said the crop will need more rains between Aug. 15 and Aug. 30, as the crop matures.