India’s soybean crop does not look good at this point.
“As of 15 July, the nationwide soybean acreage went down to just 93.22 LHA in 2021 against 105.84 LHA in 2020, which is more than 13.5% drop. Experts pointed to the twin issues of low monsoon rainfall in peak sowing season and exponential increase in soybean seed prices for the significantly lower acreage this year. Due to high prices and low productivity, farmers have sold out most of the crop this year leaving them with little to sow. Henceforth they have to procure seed from the market at exorbitant prices, which has led to reduced sowing acreage. Low monsoon rainfall has also brought down the acreage. According to reports, fear of drought looms large in parts of Madhya Pradesh, with 35 of the 52 districts being rain-deficient over a month into the season. Some districts are up to 70 % short on rainfall.”- as per the articlewww.theprint.inSoybean crop uncertainties have already forced more GM meal imports by India, which is an exception to India’s non Gmo policy. India’s 2021 soybean crop will most likely be worse than last year’s. Most likely Non Gmo Soy lecithin prices will remain high through the 2021-2022 supply year.BACK