Date: 21/06/2024

Soymeal exports rise in Oct.-May

India’s soymeal exports increased by about 8 per cent during the October-May period of the 2023-24 oil year on improving overseas demand, while the domestic offtake witnessed a decline during the period, according to the latest data from the Soyabean Processors Association of India (SOPA). Soymeal exports during October-May were up at 16.41 lakh tonnes (lt) over 15.16 lt in the same period a year ago. Though market arrivals for the period were slightly lower at 89.50 lt over 91 lt in the same period last year, the crushings till May improved. SOPA estimates that the crushing stocks with the crushing units, traders and farmers as of June 1 are estimated to be around 45.71 lt, lower than 53.87 lt in the same period last year. Iran was the largest buyer of Indian soymeal during October-May at over 3.79 lt, said a report.
Source: Exim News Service: New Delhi, June 20