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Refined Soyabean Oil

Refined Soyabean Oil ›

Introduction :

Refined Soyabean Oil SeedsSoybean oil is one of the most important edible oil used in India. Soybean oil in its crude form is the second most traded oil in international market after palm oil. Degummed (Crude) and Refined Soya oils are the two traded forms of the commodity in the spot as well as futures markets . India is the 5th largest producer of Soybean in the world. The major producers of Soybean are USA, Brazil, Argentina, China and India. About 85% of the soybean produce in the world is crushed and bi-products of soybean are derived. The demand for Soybean is mostly for its soya oil and soya meal.

Soybean oil is not only used in cooking and frying foods but is also used as renewable raw material to produce a variety of non-food products including bio diesel, inks, plasticizers, crayons, paints and soy candles.

Global Scenario :

United States is the major producer of soybean oil in the World. It accounts for approximately 23% of World soybean oil production followed by China (21%), Argentina (18%) and Brazil (16%).

Refined Soyabean OilChina is the major consumer and importer of soyabean oil in the World. It accounts for approximately 19% of World soyabean oil consumption. Followed by India (12%), US (8%) and Indonesia (4%).

Argentina is the major exporter of soyabean oil in the World, followed by United States, Brazil and EU-27 nations.

Indian Scenario :

India is the Net Importer of Soyabean Oil. The gap between the production and consumption is met by importing the Soyabean Oil.

In India, Madhya Pradesh and Maharashtra are the major cultivation states. They produces more than 85% of the soyabean produce in India. The other producing states are Rajasthan, Karnataka, Andhra Pradesh, and Chattishgarh. Madhya Pradesh produces about 58% and Maharashtra produces about 30% of soyabean in India.

Seasonality : It is a kharif crop sown in June -July. The harvesting period for soyabean crop comes around September and October. It is a highly dependent on rain and a change in the rainfall pattern affects the production of Soyabean. In some states, it is cultivated two times a year. Market sees the arrival of the Soyabean crop in October-November in India.

Major Producing Centers in India :

Madhya Pradesh : Indore, Dewas, Ujjain

Maharashtra : Mumbai, Nagpur, Sangli.

Rajasthan : Kota

Factors influencing soyabean oil price :

Indian Soyabean Oil prices are highly correlated with the CME prices. On a broader scale, the following factors affect Soyabean Oil prices.

  • Production dependence upon agro-climatic conditions e.g., rainfall, temperature etc.
  • Concentration of production base in few countries (USA, Argentina, Brazil) as against its widespread consumption base.
  • Its close link with its internationally traded substitutes (Palm, Mustard Oil, etc), and its base raw material (soyabean) in addition to its co-derivative (soya meal).
  • The crush margin between Oil, Meal and Seed.
  • Government Import Policy.

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