The Soybean Processors Association of India (SOPA) has, in its first quarterly estimates, put the total supply of the bean at 104.49 lakh tonnes (lt) for the oil year 2017-18, with estimated carryover stocks of 3.99 lt.
For the first quarter of the current oil year till December 2017, the production is pegged at 91.46 lt, while the carryover from the last year is put at 13.03 lt.
The demand for crushing is likely to be around 85 lt, while exports are projected at 2 lakh tonnes.
With 12 lt retained for sowing and 1.5 lt for direct consumption, the carryover for the coming year is estimated at 3.99 lt.
Source: The Hindu Business Line