Indian farmers to expand soybean acreage as El Nino threatens weaker monsoon and prices hit four-year highs

Indian farmers are set to increase soybean planting this year, driven by four-year-high prices and expectations of below-average monsoon rainfall linked to El Nino. Growers are shifting away from water-intensive crops such as sugarcane and corn. As the world’s largest edible oil importer, India could curb purchases of palm oil, soyoil and sunflower oil if output rises. Higher production may also steady domestic soybean and soymeal prices, easing cost pressure on the poultry industry.