Market sources say Indian monsoon could bring relief to oilseed sowing progress

According to market sources, the Indian monsoon rain has rapidly picked up pace. It is expected to spread across the country by early July, with this year’s irregular pattern positive for the country’s oilseed sowing progress which has fallen behind last year’s progress. As of 26th June, total sunflower and soybean seeds sown reached 0.26 lakh Ha and 0.99 lakh Ha, down by 64.9% and 36.4% respectively, compared to the previous year’s progress. 

However, market sources have stated that the incoming rainfall is expected to bring some relief to India’s oilseed crops and will thus be a watch-point for the major global oilseed consumers’ supply and prices.