India kharif soybean area seen down 10% as farmers shift to cotton.

India soybean acreage is likely to fall by around 10% in the ongoing kharif season as farmers may have switched to more profitable crops due to poor realisation from the oilseed, and on weather vagaries. Around 8-10% shift in sowing of soybean is expected this year. Farmers are not much interested in growing soybean and they are shifting mostly to cotton. For the 2017-18 (Jul-Jun), the minimum support price for medium staple cotton is 4,020 rupees per 100 kg and for long staple cotton at 4,320 rupees, both up 160 rupees on year, while that for soybean is 3,050 rupees.