SOPA Forecasts 120 Lakh Tons of Soybean Crushing, Anticipating Surge in Domestic Soy Oil Supply

Soy Oil

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According to the SOPA, soybean processing is anticipated to reach 120 lakh tons, an increase from the 115 lakh tons recorded in 2022-23. Up to April, soybean processing has reached 77 lakh tons, surpassing the previous year's figure of 70 lakh tons during the same period. This increase is expected to boost the availability of soy oil in the domestic market, consequently putting pressure on domestic soy oil prices.