Indore, Oct 27: Dry weather in Madhya Pradesh, biggest soybean growing state, has boosted soybean arrivals and improved the quality of the crop as harvesting picks up pace, traders and brokers said on Tuesday."Due to bright sunshine, soybean arrivals have increased and harvesting has started in full swing in the main soybean growing belt," said broker Kalyan Mundra here. The state is soybean bowl and accounts for about 75 to 80 per cent of the country's production.
Soybean crop arrivals have doubled to about 10,000 tonnes per day in central Indian markets from last week, traders said.
Sunny weather following heavy rains until about two weeks ago has improved the quality of the soybean crop, traders said.
"Soybean arrivals will touch a high of about 20,000 tonnes per day from mid-November," said trader Gopal Agrawal.
The threat of late rains affecting the new crop had also receded as better quality soybeans were coming into the markets, traders said.
"The moisture content in the crop has reduced to 12 to 15 per cent from 15 to 40 per cent about two weeks ago," broker Prakash Vora said.
"Due to good sunshine, the moisture level may further reduce to 10 to 13 percent," he said.
High moisture content in the soybean crop about two years ago had led to a few Southeast Asian buyers rejecting some consignments of Indian soymeal.
Soymeal exports for the new crop are unlikely to kick off before mid-November, traders said. Exports are seen reduced by a lower soybean crop and growing domestic soymeal consumption.
Sowing for 1999/2000 winter soybean crop has been hit by erratic rains in the main June-September monsoon season.
Although the crop is officially listed as October-September, sowing takes place earlier in the year when the monsoon sets in.
The bulk of the country's soybean production comes from the winter crop which is harvested in September.
The Soybean Processors Association of India has forecast a lower winter soybean production of 5.2 million tonnes compared to 5.9 million in the previous year.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.