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Soybean meal exports rise six-fold in January

The leftover product after extracting soybean oil is known as soybean meal.

Soybean meal exports rose almost six fold to three.36 lakh tonne throughout January due to greater demand in international markets. In January 2020, soybean meal exports stood at 58,000 tonne, mentioned DN Pathak, government director on the Soybean Processors Association of India (SOPA).

The oil advertising and marketing year runs from October to September.

Pathak mentioned Indonesia (79,375 tonne), France (70,500 tonne) and Germany (48,765 tonne) have been amongst main importers in January this year.

The leftover product after extracting soybean oil is known as soybean meal.

Pathak mentioned soybean meal costs are aggressive that are supporting exports. He expressed hope that exports may double to 18 lakh tonne in the present oil advertising and marketing year (October 2020-September 2021). In the earlier oil advertising and marketing year, 8.62 lakh tonne was exported.

The affiliation carried out a mid-term overview of soybean crop for the present oil year. Teams of SOPA carried out a large-scale subject survey in Maharashtra, Madhya Pradesh and Rajasthan, overlaying main soybean rising districts. Survey groups interacted with farmers, mandi officers, merchants, stockiest and processors to evaluate the crop in kharif 2020.

Crushing has been brisk this year and exports have greater than doubled in comparison with the earlier year, mentioned Pathak. Due to elevated export demand, the affiliation expects crushing of 95 lakh tonne this year, towards 82 lakh tonne in the earlier oil year.

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