India: Oilseeds and Products Update
Soybean production in marketing year (MY) 2015/16 (Oct-Sept) is forecast lower to 7.5 million metric tons (MMT) planted on 11.6 million hectares. This forecast, which would mark an all-time low, is based on abnormal weather conditions and consequent poor yields. As a result, oilseed supplies are relatively tight, oilmeal sales are adjusted to reflect latest estimates, and edible oil imports are raised to 14.8 MMT. Current rapeseed and mustard crop planting for MY 2015/16 lags behind last year, but the production forecast remains unchanged at 7.5 MMT.
India: Oilseeds and Products Update