By Qudsia Bano ISLAMABAD, Jan. 18 (INP-WealthPK): Soybean is a key oilseed crop that generates more than $100 billion in revenues for the global economy annually. The seed contains 20-30% of oil, 40-45% of protein, and other essential minerals. It provides 25% of the world’s vegetable edible oil and 75% of the protein for poultry and cattle feed. Soybean is a versatile crop that is grown in a number of countries, including China. Soybean is the second most common source of extracting edible oil after palms, meeting 25% of the world’s needs. However, the seed is grown on a small scale in Pakistan. As a result, its production is insignificant, and the domestic needs of edible oil are largely fulfilled through imports. Despite being an agricultural country, Pakistan has not been able to produce the required quantities of oilseeds to meet its edible oil requirements, forcing it to rely on imports at the cost of huge foreign exchange spending. It is worth mentioning here that the local production of soybean only meets 15% of the country's needs. Nonetheless, the authorities both at the federal and provincial levels are showing interest in boosting the soybean production. Fazal Yazdan, Senior Scientific Officer at the Pakistan Agricultural Research Council, told INP-WealthPK that PARC is conducting research to introduce new and better varieties of soybean seed. “Ajmari, Rawal-1, William-82 and NARC Soya are the newest varieties of seed that have been introduced in Pakistan during the year 2021. These varieties are easily and cheaply made available to farmers through Zarai Taraqiati Bank Limited, National Rural Support Programme, and Pakistan Tobacco Company.” Yazdan said that Charsadda and Swat districts and the Hazara division in Khyber Pakhtunkhwa and Gilgit-Baltistan region to the north of Pakistan are the potential areas for soybean production. “Pakistan currently has 20-25 maund per acre yield of soybean, which is much lower than the average, and can be increased through proper irrigation, following the standard sowing techniques, pesticides management, and proper germination.” Yazdan said that the annual yield of soybean in 2020 was 152 tonnes and the production area was 350 acres. In 2021, the production increased to 250 tonnes as did the area to 370 acres. He said that though Pakistan has the potential in soybean production, oil extraction techniques were poor. Farmers do not have access to both small- and large-scale oil extracting machinery because of huge costs they incur, he noted, saying, “If we want to enhance soybean production, we will have to use proper sowing and harvest techniques, recommended seed and, most importantly, proper oil extraction techniques. This is how Pakistan can meet its edible oil demand. The promotion of soybean production in rural areas will also go a long way in addressing rural poverty.” It should be noted here that the PARC had also initiated a programme – Promotion of soybean in Pakistan – that ended in 2019. The Oilseeds Research Programme of PARC planted seed multiplication blocks of soybean — promising varieties on 200 acres at the National Agriculture Research Centre farm and also distributed seed to different government departments and farmers. The objective of the activity is to revive and promote an important crop in the country and save foreign exchange on the import of soybean oil and meal.