Soybean
The summer (Kharif) crop sowing has improved as compared to last season due to timely widespread rainfalls across the India. As on 21stAugust 2020 the total summer crops has been sown on 106.293 million hectare area against 97.915 million hectare area during the corresponding period of last year. An increase in area coverage by 8.56 % compared to last year in the country. As a whole, there is no impact of COVID-19 on progress of area coverage under summer (kharif) crops as on date.
As per the sowing data released by GOI on 14thAugust 2020, the area under oilseeds increased by 14.09% to 19.114 million hectare vs 16.753 million hectare during the same period previous season. In Soybean the farmers have sowed 11.9998 million hectare which is up by 6.69% vs 11.2474 million hectare planted in the same week in the previous season. The Soybean sowing area in Maharashtra & MP states has increased by 8.28% and 6.68% respectively whereas as soybean sowing area in Telangana states has come down by 8.96%. Also the area under groundnut sowing is up by 39.79% i.e 5.003 million hectare vs 3.579 million hectare as compared the same week last season. In Gujarat state the sowing area of soybean and groundnut make a remarkable increase this season. This season highest increase in summer sowing was recorded in oils seeds (14.09%), paddy (11.71%), & pulses (6.77%) because of the timely widespread rains, good soil moisture and well availability of labour in villages due to Covid. States wise sowing of soybean as below:
| Area in Million Hectare | |||
| Soybean sowing | As on 21st Aug 2020 | Change | |
| State | 2020-2021 | 2019-2020 | in % |
| MP | 5.843 | 5.477 | 6.68 |
| Maharashtra | 4.2568 | 3.9313 | 8.28 |
| Rajasthan | 1.0668 | 1.0608 | 0.57 |
| Telangana | 0.1574 | 0.1729 | -8.96 |
| Karnataka | 0.329 | 0.3125 | 5.28 |
| Gujarat | 0.1488 | 0.0981 | 51.68 |
| Chhattisgarh | 0.0767 | 0.0727 | 5.50 |
| Others | 0.1213 | 0.1221 | -0.66 |
| Total | 11.9998 | 11.2474 | 6.69 |
Today the soybean prices again opened flat to -ve initially in India in the future exchange taking cues from International markets. But in SH the soybean prices recovered and traded +ve due to low supply of soybean in domestic markets due to ongoing rains and taking support from soybean oil & Rapeseed futures. Processors are also maintaining the minimum stocks in their plants because of increased sowing of new crop.
The soybean is trading at INR 38,040 against Friday closed at INR 37,980 and today prices traded low by 0.90 % & up by 0.73% in the future exchange.
In India the demand of meat & poultry products are still weak. Higher carry over stock of soybean and increased sowing weigh on the soybean prices.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,750-38,500 | |
| Maharashtra | 37,750-39,000 | |
| Rajasthan | 37,750-38,500 | |
| Rest India | 37,750-38,750 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Most of the processors have opened the soybean meal prices same as Saturday. Some processors have increase the price of soybean meal by INR 200-300 PMT due to low Soybean arrivals & less stock with processors. The soybean meal prices range INR 29,500-32,600+ GST across India.
The meal demand is limited and the feed mfgs/poultry farmers are buying soybean meal as per their requirements & even though the poultries/feed mfgs have a limited stocks in their hand.
Sunflower meal prices open same as yesterday. The Sunflower meal pellet prices quoted by importers are in range INR 22,800- 24,000 PMT + GST ex Tuticorin port & INR 22,800-23,300 ex Vizag port. The firm demand from buyers in range INR 22,700-800 PMT but importers stick to their prices.
The rapeseed meal prices recover by INR 100-200 PMT in the domestic market.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 29,500-31,200 |
| Maharashtra | 30,300-32,400 |
| Rajasthan | 30,900-31,500 |
| Karnataka | 31,800-32,600 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 32,500+GST |
| Kandla-FAS (in USD/PMT) | 427 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Assam, south Rajasthan, Gujarat, Rayalaseema, AP & TN .
Light to moderate rains observed at Sikkim, Bihar, Jharkhand, UP, Uttarakhand, Rajasthan, MP, Chhattisgarh, some parts of Maharashtra, Telangana, some parts of Odisha, costal Karnataka & Kerala.
A cyclonic circulation is seen over south Rajasthan and north east India.
Within next 24 hours moderate to heavy rainfall may be expected over WB, Assam, some parts of Bihar, Jharkhand, south Rajasthan, saurashtra & kutch areas of Gujarat & some parts of Odisha.
Light to moderate rainfall may be expected over Sikkim, northeast India, UP, Uttarakhand, east Rajasthan, MP, Chhattisgarh, some parts of Maharashtra, Telangana, AP, interior & costal Karnataka, TN & Kerala.