Assuming a normal monsoon, favorable weather conditions and near normal yields, India’s MY 2018/19 oilseed production, which includes Soybean, Rapeseed, Mustard, Peanut, Sunflower seed, Cottonseed and Copra is forecast to rise to 38.8 million tons on 38.4 million hectares, USDA's Foreign Agricultural Service (FAS) said in its latest report.
Current year’s oilseed production is however estimated at 35.4 million tons from 37 million hectares, slightly lower than last year due to lower than anticipated yield.
Improving oilseed supply conditions in the forecast year will help Indian oilmeal production to rebound to 17.3 million tons from 15.9 million tons estimated in MY 2017/18. (Incidentally, oilmeal production was at a decade low of 13 million tons in MY 2015/16.)
Assuming normal market conditions and competitive pricing, Indian oilmeal exports in the forecast year will rise modestly to 2.9 million tons compared to the 2.1 million tons estimate of MY 2017/18.
The first quarter of MY 2017/18 witnessed Indian Soymeal prices becoming more competitive (with some export incentive) to gain export sales, but any further uptick in its prices will trim total export sales below 2 million tons and divert additional supplies, if any, to domestic use.
Concurrently, there is a strong demand for vegetable oils, forecast in MY 18/19 at 24.8 million tons. And while local edible oil production is seen rising to 7.5 million tons, there is a widening gap which will be filled through imports, projected to rise from 16.3 million tons to 17.4 million tons in the forecast year.
Current year’s oilseed production is however estimated at 35.4 million tons from 37 million hectares, slightly lower than last year due to lower than anticipated yield.
Improving oilseed supply conditions in the forecast year will help Indian oilmeal production to rebound to 17.3 million tons from 15.9 million tons estimated in MY 2017/18. (Incidentally, oilmeal production was at a decade low of 13 million tons in MY 2015/16.)
Assuming normal market conditions and competitive pricing, Indian oilmeal exports in the forecast year will rise modestly to 2.9 million tons compared to the 2.1 million tons estimate of MY 2017/18.
The first quarter of MY 2017/18 witnessed Indian Soymeal prices becoming more competitive (with some export incentive) to gain export sales, but any further uptick in its prices will trim total export sales below 2 million tons and divert additional supplies, if any, to domestic use.
Concurrently, there is a strong demand for vegetable oils, forecast in MY 18/19 at 24.8 million tons. And while local edible oil production is seen rising to 7.5 million tons, there is a widening gap which will be filled through imports, projected to rise from 16.3 million tons to 17.4 million tons in the forecast year.
Click here - Free Trading tips , equity Tips , sebi registered advisory company , Mcx Tips , Capitalstars , Intraday Stock tips , Stock Market Tips , forex trading tips
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
Useful Information, your blog is sharing unique information....
ReplyDeleteThanks for sharing!!!
farm accounting and management services
best agricultural software supplier