Vol. 12, Special Issue 10 (2023)

Author(s):
Satyam Raj, Shriti Kumari Sinha and Rakesh Singh

Abstract:
India ranks as the fourth largest edible oil economy globally, following the United States, China, and Brazil. India's share in the global oilseeds area is approximately 15-20 percent, while its contribution to vegetable oil production stands at around 6-7 percent. Furthermore, India consumes about 9-10 percent of the world's total edible oils. Due to limited productivity, oilseed production in India has remained largely unchanged. CAGR analysis showed -1.91%, 0.30%, 1.49% and 4.54%, 4.95% and 0.39% growth in area, production and yield of Groundnut and Soybean respectively. Instability analysis showed more instability (58.68%) in yield of groundnut over the last three decades. To understand the trend in area, production, yield, and MSP of groundnut and soybean, Linear, Quadratic, Cubic and Logarithmic models were fitted by using the OLS. Cubic model is best fitted for area, yield and MSP, and for production, all 4 models are best fitted. To identify the factors for low production of Groundnut and Soybean, multiple regression analysis was utilized. For groundnut among all the factors, Area, Yield, and Export were found statistically significant at 5% level whereas import and MSP were found to be insignificant and for soybean, Area and Yield were found statistically significant at 5% level of significance whereas Export, import and MSP were found to be insignificant.