Soybean
In India the summer (Kharif) crop sowing is going with good speed, as on 31st July 2020 the total summer crops has been sown on 88.218 million hectare area against 77.438 million hectare area during the corresponding period of last year. An increase in area coverage by 13.92 % compared to last year in the country. As a whole, there is no impact of COVID-19 on progress of area coverage under summer (kharif) crops as on date.
As per the sowing data released by GOI on 31st July 2020, the area under oilseeds increased by 16.80% to 17.534 million hectare vs 15.012 million hectare during the same period previous season. In Soybean the farmers have sowed 11.662 million hectare which is up by 8.35% vs 10.7637 million hectare planted in the same week in the previous season. The Soybean sowing area in Maharashtra state has increased by over 16% whereas as soybean sowing area in Rajasthan & Telangana states have come down by 2% & 5% respectively. Also the area under groundnut sowing is up by 48.84% i.e 4.545 million hectare vs 3.053 million hectare as compared the same week last season. This season highest increase was recorded in pulses (19.26% increase) & oils seeds because of the timely widespread rains, good soil moisture and well availability of labour in villages due to Covid. States wise sowing of soybean as below:
| Area in Million Hectare | |||
| Soybean sowing | As on 31st July 2020 | Change | |
| State | 2020-2021 | 2019-2020 | in % |
| MP | 5.76 | 5.477 | 5.17 |
| Maharashtra | 4.0741 | 3.502 | 16.34 |
| Rajasthan | 1.0219 | 1.0441 | -2.13 |
| Telangana | 0.1567 | 0.1647 | -4.86 |
| Karnataka | 0.3212 | 0.3044 | 5.52 |
| Gujarat | 0.1472 | 0.0935 | 57.43 |
| Chhattisgarh | 0.0767 | 0.0656 | 16.92 |
| Others | 0.1042 | 0.1124 | -7.30 |
| Total | 11.662 | 10.7637 | 8.35 |
The overall crop condition is good to normal and also the rainfall predictions as per IMD likely to remains normal in coming months of August and September. We are expecting the new crop soybean arrivals from 15th August onwards from some parts of Maharashtra and Karnataka states.
Today again the soybean prices improved in the future exchange taking cues from the International market. In India the soybean prices recover by INR500-600 PMT in the domestic markets in the last two days due to ongoing oil demand and support from MDEX and CBOT. The soybean is trading at INR 38,100 against yesterday closed at INR 37,960 and today traded high by 1.11% in the future exchange. At JNPT the african soybean prices are in range INR37,250-37,500+ GST PMT.
In India the demand of meat & poultry products are still weak due to ongoing Shravan festival. Higher carry over stock of soybean and increased sowing weigh on the soybean prices.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,750-38,500 | |
| Maharashtra | 38,000-39,250 | |
| Rajasthan | 37,750-38,500 | |
| Rest India | 38,250-39,250 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Soybean meal prices recovered in the last two days by INR 300-600. Soybean meal prices range INR 29,000-32,800+ GST across India.
Meal demand is limited and the feed mfgs/poultry farmers are buying soybean meal as per their requirements & even though the poultries/feed mfgs have a limited stocks in their hand.
The meal demand also remains weak due to ongoing shravan festival & the prospects of bumper sowing of soybean this season due to timely good rains & huge carry over weigh on soybean as well as meal.
Sunflower meal prices recovered by INR 100-200 PMT. The Sunflower meal pellet prices quoted by importers are in range INR 22,500- 23,300 PMT + GST ex Tuticorin & Vizag ports. The resellers are quoting in price range INR 22,300-22,400 PMT +GST at Tuticorin and INR 22,400 PMT+GST Vizag port respectively.
The rapeseed meal prices are also firm in domestic market.
Weather
In the last 24 hours, moderate to heavy rainfall observed at Punjab, south east Rajasthan, Vidharbha, costal Karnataka & Kerala
Light to moderate rains observed at WB, Sikkim, Bihar, Jharkhand, Uttarakhand, south east MP, east Rajasthan, south & Kutch of Gujarat, Marathwada, AP, Telangana, interior Karnataka & some part of TN.
A cyclonic circulation is seen over south Rajasthan & north Gujarat.
Within next 24 hours moderate to heavy rainfall may be expected over some parts of MP, costal Karnataka & Kerala.
Light to moderate rainfall may be expected over Uttarakhand, Jharkhand, UP, North India, some parts of MP, Chhattisgarh, some parts of Rajasthan, Gujarat, Marathwada, central Maharashtra, Telangana, costal AP, Odisha & interior Karnataka.