Soyabean

In past one month, the stock was down 20 per cent after the government decided to discontinue import of crude soybean oil under tariff rate quota (TRQ).

The government on Wednesday said that it has decided to discontinue import of crude soybean oil under tariff rate quota (TRQ) from April 1 this year. TRQ is a quota for a volume of imports that will enter India at specified or nil duty, but after the quota is reached, the normal tariff applies to additional imports. "Last date for import of crude soybean oil under TRQ has been revised to March 31, 2023. Further, no allocation of TRQs for import of crude soybean oil shall be made for 2023-24," the directorate general of foreign trade (DGFT) said in a public notice. The government has earlier exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soybean oil and crude sunflower oil each, to ease domestic prices. The duty-free import of 20 lakh MT per year was earlier applicable for two financial years -- 2022-23 and 2023-24 -- for crude soybean oil and crude sunflower oil. Now it is applicable only for crude sunflower see

Madhya Pradesh is the leading soybean-producing state with over 40 per cent share in the country's total production of around 13 million tonnes

The total availability of soyabean is estimated at 147.55 lakh tonnes this season, higher than 126.27 lakh tonnes in the previous season

India's soyabean import is pegged lower by 64 per cent at 2 lakh tonnes in the 2022-23 season on prospects of higher domestic production, industry body SOPA said on Wednesday. The country had imported 5.55 lakh tonnes of soyabean during the 2021-22 season (October-September), it said. According to the Soybean Processors Association of India (SOPA), the domestic production of soyabean is estimated to increase to 120.40 lakh tonnes in the 2022-23 season when compared with 118.89 lakh tonnes last season. Even the carry-over stock remains higher at 25.15 lakh tonnes as against 1.83 lakh tonnes in the previous year. The total availability of soyabean is estimated at 147.55 lakh tonnes this season, higher than 126.27 lakh tonnes in the previous season, the industry body said in a statement. Out of the total soyabean, about 100 lakh tonnes would be available for crushing this season as against 84 lakh tonnes in the previous 2021-22 season. About 13 lakh tonnes are estimated to be retain

The Soybean Processors Association of India (SOPA) on Tuesday demanded the government take immediate action against the illegal import of genetically modified (GM) soyabean. Currently, the import of GM products is prohibited. "However, it has come to our knowledge that some unscrupulous companies are importing GM soybean, in contravention of every rule and regulation," SOPA Executive Director D N Pathak said in a letter to the Union Agriculture Ministry. A vessel carrying 17,741 tonnes of GM soyabean is currently discharging the cargo at Mumbai port, he claimed, and requested the ministry to take "immediate action". "If immediate action is not taken, and such imports are permitted, it will open the flood gates for illegal imports of GM soybean which will destroy our soybean cultivation," Pathak said. The soybean may find its way even to the farmers, causing irreparable damage to Indian soybean cultivation, he added. Soyabean is one of the major oilseeds that India is focusing on

The US is expecting India to address small trade barriers and facilitate the export of non-genetically modified (non-GMO) soyabean and speciality soyabean products, a senior US diplomat said

The govt has exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soyabean oil and crude sunflower oil each, to ease domestic prices

The duty-free import of 2 mn MT per year will be applicable for two FYs (2022-23, 2023-24) for crude soyabean oil and crude sunflower oil, the Finance Ministry said in a notification

Indonesia said on Friday that the shipment halt will start from April 28 and last until the government deems a domestic shortage resolved

Gujarat Ambuja Exports hit a new high of Rs 329.55, on rallying 10% on the BSE in Wednesday's intra-day trade, and has surged 29% in the past four trading days.

Soyabean production is estimated to rise by 14 per cent to nearly 119 lakh tonnes this year on higher sowing area and likely improvement in productivity, according to industry body SOPA.

Feed meal prices have risen due to a staggering 64% increase in prices of soymeal, which is one of the main constituents of feed meal along with maize

SOPA says surge driven by excessive speculative activity in exchanges

Expressing concern over rise in animal feed prices in domestic market, All India Poultry Breeders Association demanded govt to reduce import duty on soybean meal to zero for at least five months

The demand for domestic consumption of the protein- rich feed is likely to reduce by 100,000 tonne in January, the official said

Wheat is trading at Rs 1,786 per quintal in Delhi

State-wise, rains have been above normal in major crop-producing states except Rajasthan

Oilseeds like groundnut and soyabean and other crops led by cotton are largely sown in Kutch and Saurashtra regions of Gujarat

The final of a two-part series looks at how farmers are hoping a good monsoon will help make up for lockdown disruptions and losses