India’s soyabean acreage to shrink as farmers favour corn, sugarcane
Soybean acreage in India may decline this year as farmers shift to more profitable crops like corn and sugarcane. After low returns from soybeans in recent years, growers in key states like Madhya Pradesh are opting for alternatives. The move could reduce domestic oilseed output, increasing India’s reliance on imported edible oils such as palm, soya, and sunflower oil.
Soyabean acreage in India is likely to fall this year as corn and sugar cane could replace it in some areas after these crops gave higher returns to farmers than the oilseed, farmers and industry officials told Reuters.
Soybean is India’s main summer-sown oilseed crop and lower output will force the world’s biggest importer of edible oils to increase overseas buying of palm oil, soya oil and sunflower oil.
“We’ve barely made any profit from soybean over the past three years, so this year we’re switching to corn — it’s giving better returns,” said Subodh Parmar, a farmer in Devas in Madhya Pradesh state.
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Source : The Hindu Business line
