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Kharif Soya Price to Remain at Rs.3100-3400 per Qtl

Kharif Soya Price to Remain at Rs.3100-3400 per Qtl

Soybean is the largest produced oilseed globally and is known for its high protein
content and is crushed to obtain soy oil and soy meal. Almost 18 % of the oil is used for
direct consumption and industrial purpose. The remaining 82 % is soy meal used mainly as
feed for livestock.
Soybean prices are largely governed by the supply scenario in the chief producing and
exporting nations viz. “US, Brazil and Argentina” which account for over 80 % of global
production. The demand side fundamentals are influenced by the consumption pattern of
China, the largest consumer and importer of soybean, accounting for over 27 % of global
consumption.
India holds a minuscule share of 4.5 % in the global soybean production, but it takes
cues from the international soybean prices as it is the largest importer of edible oil. Soybean
is the largest produced oilseed, with 40 % share in the Indian oilseed production.
Rajasthan Government in its third advance estimate has estimated a record area of
soybean at 10.39 lakh hectares and production at 14.68 lakh tonnes in 2012-13. During the
same period the production of soybean was 12.6 million tonnes in India. In Rajasthan, major
soyabean growing districts are Jhalawar, Kota, Baran, Pratapgarh, Bundi and Chittorgarh.
To boost domestic production and reduce depending on imports, the government has
raised the MSP from Rs 1, 690 per quintal in 2011-12 to Rs. 2200-2240 in 2012-13. The
prevailing soybean prices ranging from Rs. 3700 to Rs. 3900 per quintal is more than the
minimum support price (MSP).
To forecast the prices of soybean for the harvesting and market arrival months of
September-October 2013, an econometric analysis of modal prices of Soybean prevailed in
Kota Market for a period of 13 years was carried out by Agricultural Market Intelligence
Centre of Department of Agricultural Economics and Management , Rajasthan college of
Agriculture, Udaipur. Based on the results of the analysis along with the market survey, it is
concluded that the price of soybean might remain in the range of Rs. 3100 to Rs. 3400 per
quintal during October and November, 2013, provided the current market sentiments
continue. Thus, farmers are advised to consider these facts while deciding the acreage under
soybean crop in kharif 2013. This price forecast is subjected to change with revision in EXIM
policy of Government of India with regard to edible oils in general and soya oil in particular.
The export of soya meal may also affect the prices of soybean.
(S.S.Burark)
CCPI(NAIP)

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Please note that this is the opinion of the author and is Not Certified by ICAR or any of its authorised agents.