Growth and Instability of Soybean Export from India

Abstract

India’s vegetable oil economy is the world’s fourth largest after USA, China & Brazil. The oil seed accounts for 13 per cent of the Gross Cropped Area, 3 per cent of the Gross National Product, and 10 per cent value of all agricultural commodities accounting for about 19% of the global area, and 2.7% of the global production of the world. Soybean is the leading oilseed produced globally. The soybean (Glycine max) is a species of legume, popularly known as the “golden bean” or “miracle bean” of the 21st century. India is one of the major oilseed growers and importers of edible oils. Soybean contributes to 39 per cent of oil seeds production in India. The study estimated the compound growth rate and instability in the area, production and productivity of soybean in India from 2001-2020.