Market Players sees India ’17-18 soy crop 8.9 million tonne, down 15%.

After a stellar start to monsoon this year, the prolonged dry spell in Jul-Aug has taken a sizeable toll on kharif crops, soybean. This may lead to an over 12% decline in the country’s overall output of summer-sown oilseed crops. Soybean is the largest hit oilseed crop and we expect production this kharif season to fall by 15% to 8.9 million tonne. Expect soybean production in Madhya Pradesh to fall to around 5.0 million tonne from 5.4 million tonne and in Maharashtra to 3.8 million tonne from around 4.0 million tonne a year ago. However, the carry-forward stock of the oilseed from the current year is likely to shoot up to around 1.2 million tonne from 460,000 tonne a year ago, which keep supply comfortable next year. Overall oilseeds production in the kharif season is expected to be at 14.4 million tonne, down 2 million tonne from a year ago.