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Soyabean acreage seen up 5-15 percent this year

Soyabean planting is nearing completion in the key growing areas of Central India aided by a surge in rains over the past week.

As on July 6, Soyabean was planted on around 5.1 million hectares – about 4% lower than the corresponding period last year. Except for Karnataka, all other Soyabean growing States had reported a lower acreage as on July 6 when compared to last year.

However, industry and the government expect Soyabean acreage in the ongoing kharif season to be higher by 5-15 per cent over last year’s 10.5 million hectares.

Sowing has picked up this week on widespread rains and we could see a big increase in coverage by end of the week, a top official of Indian Institute of Soyabean Research (ICAR) said.

With Soyabean fetching good returns as prices ruled above the MSP for most part of last year, farmers are seen shifting to the oilseed from other crops such as pulses and Cotton, mainly in parts of Madhya Pradesh and Maharashtra. Also, the 11.44 per cent increase in MSP announced by the Centre at Rs 3,399 a quintal for the current kharif season will also lift the acreage.

We are expecting a 10-15 per cent increase in overall acreage under soyabean when the numbers come in by end July, ICAR said.

Soybean acreage will rise by at least 5 per cent when compared to last year. Soyabean could gain area from Cotton in Maharashtra and from pulses in Madhya Pradesh, industry body Soyabean Processors Association of India (SOPA) said.

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