Soybean meal export rose over 50 per cent in October from a month ago due to a drop in its price and a pickup in demand from the traditional South East Asian market, according to Soybean Processors Association of India (SOPA).

Export of soybean meal in October stood at 19,139 tonnes with Japan, Myanmar and Kenya remained the leading buyers. The lion share of soybean meal from India used to go to East and South East Asian Countries due to proximity and advantage of booking small containers from India.

D N Pathak, executive director, SOPA said, "Exports were expected to rise this season on account of higher production and comparatively lower prices of soybean."



According to experts, soybean exports were sluggish for past two years due to higher soybean meal prices in the international market. A likely higher production of soybean in the country this season will keep prices under pressure and make soybean meal competitive at the global market. Experts said that soybean prices will witness a fall in coming months due to new season supplies from November.


Pathak said, "The price difference between Indian and international soybean meal has come down to $15 per tones to $20 per tonnes as compared with earlier $40 per tonnes."


Soybean is crushed to obtain oil and meal for animal feed. Industry participants expect soybean meal exports will reach 1.5-2 million tonnes this season as against negligible exports in the past two years.


Soybean production is anticipated higher due to good monsoon rains in the soybean producing region. The state is the top soybean producing center of India. However, on a fiscal year basis, October exports were significantly lower than the same period a year ago. Soybean meal exports in October 2015 was only 42,104 tonnes.

Sources : timesofindia.indiatimes.com