India is the 5th highest producer of Soybean seeds falling in the league of US, Brazil, China, Argentina, Paraguay, Canada and Indonesia. India is also 3rd highest consumer of soybean in the world.
Soybean grown in hot and humid climate is also known as miracle crop. Soybean, a khariff crop, takes around two months' time to mature. Shedding of leaves on soybean plant is an indicator of harvesting and maturity of seeds. Annual production of soybean in India is approximately 7 million tons. The production of soy oil accounts to around 1 million ton and this is around 18 per cent of total oil consumption in India. Madhya Pradesh is the leading producer of soybean seeds in India. Out of the total consumption in India, 10-12% of soybean production is consumed directly and the rest in the form of its derivatives. 65% of soybean is exported to coutnries such as South Korea, Thailand, Philippines and Japan. Soybean trade happens in Indore, Ujjain, Dewas, Mandsore, Astha, Nagpur, Sangli, and Kota. Soybean yield is dependent on the amount of rainfall in a particular year. The price of soybean is highly volatile as it is affected by the international market price.