USDA arm sees India 2017-18 soybean output down 13% on year.

The US Department of Agriculture has cut its estimate for India’s output of soybean in 2017-18 to 10 million tonne, down 13% from its earlier projection of 11.5 million tonne in July. The USDA arm has revised total oilseed production in the country down to 35.9 million tonne, 7% below the 38.6 million tonne projected earlier. The USDA branch sees imports of edible oil in the country rising by 10% on year to 16.6 million tonne. The import basket is expected to include 10 million tonne of palm oil, 4.2 million tonne of soybean oil, 2 million tonne of sunflower seed oil and remaining other oils.