Soybean production may rise upto 11 million tonnes (MT) this year, which is 10 per cent more than the government estimate of 9.94 MT, traders said.
“The government’s estimate is conservative. The production will be 5-10 per cent higher than the official projection,” an Indore-based soyabean processor said on Monday.
He said the crop condition was good and the production would be between 10.5-11 MT. Harvesting of soybean crops, which was sown early, has already started in some parts of Madhya Pradesh, he added.
Another soybean trader said the output would have been even more had there been good crop in Maharashtra. Many crops in the state were affected due to scanty rainfall during the crucial period.
In the first advance estimate for 2008-09 released by the Agriculture Ministry last week, soybean production is pegged at 9.94 MT against 9.99 MT in the fourth advance estimates for 2007-08.
The production has been estimated at lower levels despite higher acreage of soybean this year. The area under coverage for soybean, a crop grown only in the Kharif season, has increased to 96.24 lakh hectare till last week in the ongoing season as against 87.6 lakh hectares in the year-ago period.
The soybean processor pointed out that the government last year had revised the first estimate by 950,000 tonnes by the time it released the fourth estimate. In the first estimate for 2007-08, soybean output was projected at 9.04 MT.
Soyabean Processors Association is likely to announce the trade estimate of the crop this week. (PTI)
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