Impact Analysis of Soybean in Supply of Edible Oil in India

Abstract

Soybean plays an important role in providing a nutritionally balanced diet. It is the principal source of edible oil and protein in human diets. The edible oil industry is one of the most important sectors of agriculture in India. India is a leading player in the industry, with the World’s largest importer from Indonesia and Malaysia and third largest consumer. India is the fourth largest Soybean producing country in the world after US 118.68 MT Brazil 102 MT, followed by Argentina 57 MT, China 12.5 MT and India 12.30 MT during 2015-16. India is the largest consumer and importer of edible oils the global level. Basically a total oilseed area occupied 28.051 million hectares which contributed production 32.75MT during 2013-14. Soybean play an important role, its area 11.16 million hectares 42 percent was contributed production 12.30 million tons production and 41 percent share of total oilseed crops during TE 2015. However, the annual compound growth rate of Soybean area 14%, production 15.5% and yield 1.34%, while in total oilseed area 1.33% production 3.31% and yield 1.96% recorded during 4.5 decades (1970-71 to 2014-15), However the Soybean is leading crop first rank in oilseeds share, while it was start cultivation 1970s decades. It is emerged fastest growth in Indian an oilseed crop and cheap sources of edible oil next to palm oil in India in terms of volumes, crude edible oil contributes about 89% and refined oil contributes about 11% of the total import during 2014-15. The share edible oil of the 89% of imported crude edible oil, palm oil, soybean oil and sunflower oil contributes about 54%, 21% and 11%, respectively. The demand for edible oils in India has shown a steady growth at a CAGR of 6.50 % over the period from 2012-13 to 2016-17. The current per capita consumption edible oil in India (at 15.91 Kg/year for 2015-16) was lower than global averages (25 kg/year).