Soybean Meal: Soybean exports have come down due to weak soybean yield.

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New Delhi: The Government of India is making several plans to increase the export of soybean meal. The effort of the Government of India is to increase the export of soybean meal from India to East and Southeast Asian countries. If we talk about last year’s soybean meal season (October-September), then soybean export has been around 6.25 lakh tonnes in the year 2022. This is about 67% less than the same period last year. Soymeal exports stood at 19.12 lakh tonnes in the same period last year.

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The trend of soymeal export has changed in the last 2 months. Oil meal exports have increased by 19% to 2.27 lakh tonnes in July this year. The reason for this is the boom in export of rapeseed meal. Oil meal export was at 1.91 lakh tonnes in the year 2021.

Oil meal exports have registered a growth of 35% this year, but the share of soymeal has declined. If we talk about the overall export, then it has been 12.48 lakh tonnes, which was 9.27 lakh tonnes in the April-June period of last year.

If we talk about soybean meal crushing from October last year to August this year, then it has been reduced by 20 percent compared to last year at 74 lakh tonnes. Due to the low yield of soybean in the country, there is a decrease in the data of processing of soybeans.

South Korea has emerged as the largest importer in the April-July period in terms of importing oil meal from India. If we talk about castor meal, then its export has also come down. At present, the price of soybean meal is being quoted at $675 per ton on fob Kandla. The interesting fact is that Argentina’s soybean meal is currently at $548 per tonne and Brazil’s soybean meal is at $534 per tonne.

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