Soybean (Glycine max) is called as Golden Bean. The plant is classed as an oilseed and is an important global crop. The processed soybean is the largest source of protein feed and second largest source of vegetable oil in the world. The major portion of the global and domestic crop is solvent-extracted with hexane to yield soy oil and obtain Soymeal, which is widely used in the animal feed industry.
Scenario
USA, Brazil, Argentina, China and India are the largest soybean producing countries in the world. Soybean is largest grown oilseeds in the world and other major source of oilseeds are Rapeseed (13%), Cottonseed (10%), Peanut(8%), Sunflower (7%) seed and Palm kernels. Among major oilseeds, higher percentage of meal extracted from Soybean 82%. The Prices of soybean determined by demand and supply of oil and meal.
Future Prospects of Soybean
It is estimated that above 75% of the global output is crushed worldwide. A very small proportion of the crop is consumed directly by humans, soybean products appear in a large variety of processed foods. The cultivation of soybean is successful in climates with hot summers, with temperatures between 20°C to 30°C being optimum. It can grow in a wide range of soils, with optimum growth in moist alluvial soils with a good organic content. Soybeans derivatives are found in hundreds of human foods, animal feeds and industrial products.
Factor Influencing Prices
Scenario
USA, Brazil, Argentina, China and India are the largest soybean producing countries in the world. Soybean is largest grown oilseeds in the world and other major source of oilseeds are Rapeseed (13%), Cottonseed (10%), Peanut(8%), Sunflower (7%) seed and Palm kernels. Among major oilseeds, higher percentage of meal extracted from Soybean 82%. The Prices of soybean determined by demand and supply of oil and meal.
Future Prospects of Soybean
It is estimated that above 75% of the global output is crushed worldwide. A very small proportion of the crop is consumed directly by humans, soybean products appear in a large variety of processed foods. The cultivation of soybean is successful in climates with hot summers, with temperatures between 20°C to 30°C being optimum. It can grow in a wide range of soils, with optimum growth in moist alluvial soils with a good organic content. Soybeans derivatives are found in hundreds of human foods, animal feeds and industrial products.
Factor Influencing Prices
- Weather at all the producing centers, domestic and international. The pod bearing period, being the most crucial
- The area planted, determined by the price of soybean against that of competitive crops used for animal feed, viz., maize, jowar, bajra
- Government policies such as Minimum Support Price (MSP) fixed for the crop, import duty & export of its derivatives and stock limits
- Pests and diseases
- Infections affecting poultry and cattle like bird flu
- Demand for Soybean from Oil extractors and Farmers
- The crush margin between meal, oil and seed
- The supply-demand and price scenario of competitive oils, viz. palm oil
- International soy price movement at CBOT, being the major international reference market
- International market price for soy meal export
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