Indore, August 10 (Commoditiescontrol) Stocks of soybean available with farmers, traders and plants as on August 1, 2022 were over 40 lakh tonnes, as per the estimates of demand and supply of soybean and soymeal for the crop year 2021-22 by the Soybean Processors Association of India.
The SOPA has revised import of soybean upwards to 4.5 lakh tons from earlier 3.5 lakh tons, exports of soybean to 1 lakh tons from earlier 0.50 lakh tons and Direct consumption of Soybean to 3.5 lakt tons from 3 lakh tons. Local Meal Consumption to 55 lakh tons from 54 lakh tons.
Estimates for export of soybean meal have been revised downwards to 6.5 lakh tons from earlier projections of 10 lakh tons. Estimates for Import of Soybean meal has also been revised to 5.5 lakh tons from earlier estimated 7 lakh tons.
The highlights of the latest estimates of Supply and Demand of Soybean and Soybean Meal for oil year 2021-2022 (October 2021 to September 2022) till July 2022 and a comparison of the same with the corresponding period of last season are as follows :
SOYBEAN
In Lakh Ton
October 2021 to September 2022
October 2020 to September 2021
Stock Brought Forwarded from Previous Year
1.83
5.16
All India Crop
118.89
104.55
TOTAL CROP
120.72
109.71
Add :
Import Till July
3.96
3.68
Less :
Retained for Sowing
13.00
13.00
New Crop Arrived in September
2.00
Available for Crushing
111.68
98.39
Oct to July 2022
Oct to July 2021
Arrivals till July
82.00
90.25
Crushing till July
67.50
87.50
Direct Use till July
3.00
1.75
Export till July
0.66
0.32
Stock with Plants/Traders and Farmers as on 1st August
40.52
8.82
SOYBEAN MEAL
Oct to July 2022
Oct to July 2021
Stock Brought Forwarded from Previous Year
2.41
0.63
Import of SBM
4.56
0.27
Production of Soybean Meal
53.88
69.84
Export of Soybean meal through SEA and Land
5.86
18.98
Domestic Consumption for Food
6.70
5.00
Domestic Consumption for Feed
46.50
45.25
Balance Stock of Meal as on 1st August
1.79
1.51
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