India's Shift from Soybean to Corn and Sugarcane: Impact on Edible Oil Imports

In a significant agricultural shift, Indian farmers are opting for corn and sugarcane over soybean due to higher profitability, industry insiders reveal. This transition may compel India, the largest global importer of edible oils, to boost its overseas purchases of palm oil, soyoil, and sunflower oil.

Subodh Parmar, a farmer from Madhya Pradesh, stated, "Over the past three years, soybean hasn't yielded substantial profits, leading many like me to switch to corn." The trend is echoed by D.N. Pathak from the Soybean Processors Association of India, who attributes the shift to a decline in soybean prices.

Amidst these changes, the role of monsoon rains remains crucial for the yield of rain-fed crops like soybean. However, B.V. Mehta from the Solvent Extractors' Association notes the local soymeal demand has reduced, with poultry industries preferring cheaper alternatives like DDGS.

(With inputs from agencies.)