Soymeal exports decline in 2018
A sudden spurt in soybean prices has made Indian meal exports uncompetitive over the past one month, prompting exporters to forecast a 50 per cent decline in shipments this oil year (November 2017–October 2018). According to Soybean Processors Association (SOPA), India’s total soymeal exports skyrocketed to 2 million tonnes for oil year 2016-17 from a mere 320,000 tonnes during the previous year, when its shipment was hit due to crushing disparity. Soymeal has become expensive because of rising soybean prices. India’s cost of soymeal production works out to $500 a tonne as against exports from Argentina and the United States at $400 a tonne.