World Soybean Production

Soybean is one of the most important Oil Seed Crop in the world, the annual production of Soybean for year 2018/19 is 360.993 Million Metric Tonnes which is cultivated under 121 million hectares. United States of America is the leading Producer (123 MMT) followed by Brazil (117 MMT) under 32 Mllion Hectares and 36.28 Million Hectares respectively.

Countries V/S Production in Million Metric Tonnes

According to USDA, 2019/20 soybean production at 11.0 million metric tons, up nearly 7 percent from last month, but down 4 percent from last year. Area is estimated at 11.0 million hectares; Yield is forecast to increase to 1.00 metric ton per hectare.

According to London-based LMC International, forecasts India’s soybean output at nine million tonnes this year, as compared to 10.5 MMT last year. Apart from late monsoon rain, the crop was damaged in floods across major growing regions. Rainfall even now has aggravated the crop damage. This will lead to vegetable oil import hitting 16.6-16.7 MMT or even more.