As per Soybean Processors Association of India (SOPA), first estimates for kharif 2024, India’s Soybean crop was estimated at 12.5 million tonne, 5.9 % higher than last year which was 11.8 million tonne, However the key take away here was that the total area was estimated at 11.8 million hectares, which was lower than this year’s government estimate, i.e 12.5 million hectares  Reasons attributed to this was due to Intercropping in Maharashtra and shift of area towards maize in few pockets of Madhya Pradesh.

Although the area was reduced, the yield was expected to rise to 10.6 quintal per hectare in comparison to 10.0 quintal per hectare last year, this increase in yield was estimated due to favorable conditions and improved agricultural practices.

State-wise Insights:

• Madhya Pradesh: Area negligibly decreased, however production expected to increase to 5.5 million tonne.
• Maharashtra: Area decreased to 4.50 million hectares in 2024 from 4.56 million hectares in 2023, yet production expected to increase 5.0 million tonne this year , in comparison with 4.6 million tonne last year, due to favorable weather conditions
• Rajasthan: Area remains steady, with production to reach 1.05 million tonne.

Over all prospect for Soybean,2024 is bullish, aiding to boost the Soybean market for processors and other stakeholders.

Source: The Business Line, SOPA