The Hindu Business Line : Lower world soyabean crop forecast

Mumbai May 14 Global production of major oilseed is projected at 399 million tonnes (mt) for 2007-08, down 3.8 mt from 2006-07. If realised, it will be the first year-to-year decline in global major oilseed production since 1995-96, US Department of Agriculture (USDA) said in its latest world agricultural supply and demand estimate for next season.

The US oilseed production next year is projected at 84.1 mt, down 13 per cent from the previous year. Soyabean output in the US, world's largest producer, will be down sharply due to smaller planted area (shifted to corn).

Rapidly expanding production of bio-diesel from Soyabean oil is contributing to a projected 6 per cent increase in domestic soya oil disappearance.

Bio-diesel production is projected to use 19 per cent of total soya oil production for 2007-08 as compared with 13 per cent in 2006-07, USDA said.

The US season-average Soyabean price for 200708 is projected at $6.50 to $7.50 per bushel, compared with $6.30 per bushel in 2006/07. US prices are expected to remain firm due to relatively strong corn and soyabean oil prices.

Soyabean meal prices are forecast at $185 to $215 per short tonne, compared with $195 per tonne for 2006/07. Soyabean oil prices are projected at 29.5 to 33.5 cents per pound compared with 29.5 cents per pound for 2006/07.

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