October 1, 2003

 

 

India's Soybean Crop Estimates

 

Estimates for India's soybean production this year have differed from the country's government to the Central Organisation of Oil Industry and Trade, or COOIT.

 

The Indian government's estimated soybean production is at 7.10 million tons, compared with COOIT's estimated 6.03 million tons. Surprisingly, the government's estimate for soybean production is even higher than estimates by international analysts.

  

The Hamburg-based Oil World magazine last week forecast that India's soybean production will be 5.5 million tons.

 

The government has given no reason for its higher forecast.

 

Estimates for total oilseed production by the Indian government was about 2 tons more than estimated by COOIT, owing to the optimism in soybean crops. The government's sunflower and groundnut crop production estimates were also comparatively higher than COOIT's.    

   

India's total oilseeds production in 2002 was 9.2 million tons.