Soymeal ex­ports de­cline in 2018

Maritime Gateway - - News -

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.

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