Soyabean crop damaged by unseasonal rain

algotrader

Heavy rain in madhya pradesh has damaged lot of soybean crop that was ready for harvest. My own field has 30-40% damage. This will definitely affect supply and prices should go up. What are other farmers experiencing? Is damage widespread?

algotrader

Reply by: Indore_Commodity_Broker
Yes damage is quite widespread in Malwa region. SOPA is estimating 15-20% crop loss across MP. Prices have already started moving up, yesterday it touched ₹4650 per quintal in Indore mandi. If damage assessment confirms the loss then we may see ₹5000+ levels soon.

algotrader

Reply by: AgriCommodityExpert
This is unfortunate for farmers who suffered loss but good for those who harvested early. Climate change is making weather unpredictable. Farmers should seriously consider crop insurance schemes now.