Soymeal exports doubled during the last month

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Ahmedabad. 12 December 2020, Saturday

According to the Soybean Processors Association, soybean exports from India doubled in November due to rising demand from European countries.

According to the association, soymeal exports from India increased to 200,000 tonnes during the month of November. Which was 4,000 tonnes at the same time last year. India's soybean meal was heavily imported to Europe by France and Belgium.

In the first two months of the current oil year (October 2020 to September 2021), soymeal exports more than doubled to 6.5 lakh tonnes. During the same period last year, exports stood at 1.5 lakh tonnes.

It may be noted here that soybean meal prices in the US, Brazil and Argentina have risen in the global market, reaching around Indian prices, which has given India a big advantage in global competition. These three countries are the largest producers of soybeans in the world.

So far, India's soybean meal prices have been higher than these three countries, hitting the export front. But now that prices are average, India has benefited greatly.


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