Soybean Processors Association says India Oct-Apr soybean arrivals 5.9 million tonne, up 37% on year.

Soybean arrivals in the country rise to 5.9 million tonne during Oct-Apr from 4.3 million tonne a year ago. Soybean stock with farmers was 4.6 million tonne at the end of April, more than double the stock a year ago. with traders and plant owners are at 383,000 tonne during the period, down from 522,000 tonne a year ago. Higher exports of soymeal, a derivative of soybean, resulted in lower stocks with traders this year. Soymeal export is pegged at 1.27 million tonne during Oct-Apr, way higher than 262,000 tonne exported a year ago. Bumper soybean crop in 2016-17 (Jul-Jun) made soymeal cheaper in the domestic market and attracted overseas buyers, thereby resulting in higher exports. Indian soybean output is likely to rise to 11.49 million tonne in 2016-17 (Jul-Jun), from 6.93 million tonne in the previous year. The country exports of soybean rose to 172,000 tn during the first seven months of the marketing year from 115,000 tonnea year ago. Production of soymeal rise to 4.46 million tonne during Oct-Apr, from 3.12 million tonne a year ago. Soymeal stock at the end of April is 48,000 tonne, sharply down from 239,000 tonne a year ago. Carryover stock from the marketing year ended September were pegged at 441,000 tonne.