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Fresh soy produce enters MP market

Fresh soy produce enters MP market
TNN | Updated: Oct 3, 2016, 07.37 AM IST

Indore: Arrivals from the new season of soybean crop have started reaching local markets of the state. Farmers have also commenced harvesting in several areas for crop sown in June. Light monsoon showers in several parts of the region including Dewas, Ujjain, Khandwa, Barwani, Depalpur and Khargone expedited harvesting as rains may cause damage to the crop.

Sukhdev Patidar, a soybean farmer from Asangaon in Khargone district said, "Harvesting has started in many areas for crop that was sown early while soybean sown in July will be harvested in a week's time."

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Farmers said the weather remained almost favourable this season but rains at this point of time may cause damage to the crop and may also delay the process of harvesting. Soybean arrivals are expected to pick up in a fortnight, dampening prices. Madhya Pradesh is the top soybean producing centre of India. However, lower prices of soybean in the market and the likely situation of further falls with an increase in arrivals have dejected farmers. Ramvishwas Sharma, a farmer from Dewas said, "Prices are not attractive at all but we are forced to sell because we do not have any holding capacity."

Farmers said soybean is sold at Rs 2,500 -Rs 2,800 per quintal as against the expectation of over Rs 3,000 per quintal this season.

Soybean production is anticipated to be higher this year thanks to conducive weather conditions. However, despite a likely higher production, exports of Indian soybean meal is unlikely to gear up as it is steeper by about $50 per tonne in the global market.

DN Pathak, executive director, Soybean Processors Association of India (SOPA) said, "The prospects of soybean meal looks good this season as production and availability is quite high