Soyameal exports up 8.8% at 15.23 lt during October-April

Exports of soyabean meal have picked up on higher demand from countries such as Bangladesh and Iran among others.

Shipments were up by around 8.8 per cent during the October-April period of the 2023-24 oil year at around 15.23 lakh tonnes (lt) over 14 lt in the same period a year ago, as per the latest estimates by the Soyabean Processors Association of India (SOPA).

Production of soyabean meal registered a marginal growth during the period, while domestic o£-take was muted from both food and animal feed sectors.

LOWER ARRIVALS

Soyameal production during October to April was

Iran with imports of 3.79 lt has been the biggest buyer of Indian soyameal this oil year, followed by UAE with 2.93 lt

marginally higher at 60.76 lt over 60.26 lt in the same period a year ago.

O£-take from the domestic feed sector stood lower at 40 lt as compared to 41.05 lt, while the consumption by the food sector was lower at 4.95 lt (5.75 lt in same period last year).

Soyabean arrivals during October-April were lower at 82 lt (84 lt). Crushing till April were higher at 77 lt (75.50 lt) while the direct consumption also registered an increase at 3.10 lt (2.85 lt).

Soyabean stocks with plants, traders and farmers stood at 55.41 lt, lower than 61.04 lt a year ago.

SOPA Executive Director D N Pathak said in a statement that in view of the higher than projected imports of soyabean, the import projections for the year have been revised to 6 lt, higher than 5.5 lt estimated last month.

Iran with imports of 3.79 lt has been the biggest buyer of Indian soyameal this oil year, followed by UAE with 2.93 lt. Bangladesh 2.77 lt and Nepal with 1.40 lt were the other large buyers.