Browse Data and Analysis

Soybean production in marketing year (MY) 2024/2025 is estimated at 12.9 million metric tons (MMT) on favorable conditions and slightly higher area.

India’s oilseeds production in marketing year (MY) 2024/25 (October-September) is forecast to reach 41.9 million metric tons (MMT), a marginal drop from MY2023/2024 estimate of 42.7 MMT due weaker prices for Indian producers, limited agricultural input availability, and weather trends.

FAS New Delhi estimates India’s rapeseed-mustard production for marketing year (MY) 2023/2024 (October-September) at 11.9 million metric tons (MMT), harvested from 9.3 million hectares following favorable cold weather during the rabi crop season.

FAS New Delhi’s forecast for India’s soybean oilseed production for marketing year (MY) 2023/24 is revised to 12 million metric tons (MMT), slightly lower than the MY 2022/23 at 12.4 MMT which accounts for the impact of the El Nino weather pattern.

India’s soybean oilseed and rapeseed production estimates for marketing year (MY) 2022/23 (October-September) increased to 12.4 and 11.8 million metric tons (MMT) respectively due to favorable weather conditions.

On June 14, 2023, India’s Ministry of Finance issued Public Notice No. 39/2023 - Customs that reduces the import duty on refined sunflower and soybean oils.

The 2023 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2023 calendar year.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

India’s oilseeds production in marketing year (MY) 2023/2024 (October-September) is forecast to remain flat at 41.5 million metric tons (MMT), mostly unchanged from MY 2022/2023. Unseasonably heavy spring precipitation and a predicted El Niño weather pattern in the wake of severe April-June heatwaves will expose summer oilseed crops to greater incidences of plant stresses and thus impact yields.

India’s rapeseed and mustard (rapeseed-mustard) production estimate for marketing year (MY) 2022/2023 (October-September) is forecast to drop slightly to 11.4 million metric tons, harvested from a record 9.2 million hectares following a favorable monsoon performance in the state of Rajasthan.

On January 11, 2023, India’s Ministry of Commerce and Industry/Directorate General of Foreign Trade (DGFT) issued Public Notice No. 50/2015-20. The notice specifies that India amended its previous tariff-rate quota of 2 million metric tons for crude soybean oil, previously allowable at a zero percent duty through Indian fiscal years (IFY) 2022/23 and 2023/24 (April 1-March 31).

India’s soybean, peanut, and sunflowerseed production for marketing year (MY) 2022/23 (October-September) is estimated at 11.1 million metric tons (MMT), 6.65 MMT, and 200,000 metric tons, respectively, reflecting heavy late season rainfall in September and October that impacted yields and crop quality.