2016-17 end soybean stock seen up at record 1.8 million tonne.

India soybean stocks would be at a record high of 1.75 million tonne when the current marketing season ends on Sep 30 because of a bumper output. Stocks are seen rising more than four-fold from 2015-16 (Oct-Sep). All the 13 participants polled rise estimated higher year-on-year ending stocks. Estimates for the season-ending stocks for 2016-17 ranged between 1.0 million and 3.0 million tonne, while those for 2015-16 were in the range of 0.2-1.0 million tonne. Indian farmers harvested 11.49 million tonne of soybean in 2016-17, up from 6.93 million tonne harvested in the previous year. Carryover stocks (for 2017-18) of the oilseed is estimated higher because of a record crop last year and good beginning stocks.