The head of India’s soybean processing trade association said that the nation’s soybean harvest area will expand by 10 percent this year. India is the world’s largest consumer of vegetable oil and exported three times as much soymeal a decade ago until domestic demand started rising. Soybean production is expanding globally, and India only produces about 10 percent of world output, but the expansion in India has outpaced the rest of the world over the past few years. Even though India consumer more than 50 percent more palm oil than soyoil, demand for the former has been in decline while consumption of more expensive soyoil has been rising. It is unclear whether this dynamic will continue and may be highly dependent on th...

TAGS – Soy & Oilseeds, India