The Hindu Business Line : Soyabean farmers pin hopes on last bout of rains

SOYABEAN farmers in the country are hoping for a last bout of rains towards the end of September to help them mitigate some of the earlier losses caused by delayed monsoon, prolonged dry spell and pest attacks.

Soyabean crop may be marginally lower during 2005-06 season compared with last year's output of 58.51 lakh tonnes , but last rains could improve the situation further, industry representatives said.

"Initially what is lost is lost. But rains in the last fortnight have improved prospects," said Mr Rajesh Agrawal, Chairman, Soyabean Processors Association of India (SOPA).

At least 10-15 per cent of soyabean sown has been damaged on account of dry spell leading to pest attacks.

"The bulk of the 100-day crop is at podding stage. Rains are crucial at this juncture," said an official of SOPA.

Soyabean cultivation in Madhya Pradesh, the leading producer of the grain, has had the impact of delayed monsoon as well as dry spell. In comparison, soyabean crop in Rajasthan and Maharashtra was much better, the SOPA official said.

"We are hoping for one more round of rains before the season ends," he said.

Renewal of rains across central India has come as a relief to agricultural crops. "Further damage has been arrested," said Mr Agrawal. However, this time around yield per hectare could be marginally impacted. The average yield per hectare for soyabean is one tonne.

Domestic soya oil prices are soft at the moment but their trend in the coming days would be determined by the harvest, which is due to commence mid-October.

Refined soya oil spot prices at Indore mandi was down Rs 10 at Rs 358 per 10 kg on continued selling pressure amid restricted buying on reports of favourable weather condition in soyabean growing states.

In the Mumbai market, refined soya oil (imported) spot prices were down Rs 10 at Rs 345 per 10 kg. Similarly, crude oil imported also fell by Rs 12 at Rs 320 per 10 kg on increased selling by importers.

At NCDEX, refined soya oil October contracts were down by Rs 16 to Rs 362 per 10 kg on Monday from Rs 378.70 per 10 kg on August 30.

"Prices are likely to moved down further on weak international market and favourable weather condition for domestic soya crop," a local trader said.

Globally soyabean prices would depend on the US crop, which is due for harvest shortly. However, sowing of soyabean in Brazil is estimated 10-12 per cent down on account for dry weather, Mr Agrawal said.

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