Soybean & Soybean OilSoybean is one
of the most important and largest oilseed crop of India. It is sown during
June-Jul period and harvested by October. Though the direct consumption
of soybean is limited, the consumption of soy products is very high in India as
well overseas markets. Soybean oil is the main product of soybean which
is widely consumed by human whereas its meal is mainly used in animal feed industry. Soybean
oil is the one of the most important edible oil used in India. After palm oil,
soybean oil in in its crude form is the most traded oil in international market.
The soybean are crushed to obtain oil and its meal. The oil content in soybeans
in normally 18%. Soybean oil is basically used in cooking as edible oil. Though
U.S. is the biggest producer of soybeans in the world, Argentina leads the export
charts for oil and meal. The major other producer is Brazil. India's major
import of crude soybean oil is from Argentina and Brazil. The futures
market in India for soy oil was active but with the misinterpretation by authorities
for influence of future markets on its spot price, it was banned few months back.
Ironically, the day futures ban was put on it, the soybean rose by 5% due to gap
of future information. The ban is expected to be lifted and soon the futures trading
may start in soybean oil. Indian households use soy flour to mix with regular
wheat flour for its health benefits. Soybean is known to have lot of nutritional
values hence its products are nowadays getting sold in markets as Health foods
also. India is a biggest importer of edible oil in world and soy oil import
is next only to palm oil in country. Though the export oil is negligible it is
prohibited for now. The soybean & its oil's Cbot movement and prices
of palm oil has the biggest influence on the prices in Indian market. | 
