During January - July India increased export of soybean meal by 6 times

11 Aug, 2017
During January - July India increased export of soybean meal by 6 times
According to Oil World, in July 2017, soybean meal export from India reached 40,000 – 45,000 tonnes at 23,000 tonnes in July 2016. From the beginning of 2017 soybean meal export reached 1.03 million tonnes at 172,000 tonnes in the same period of 2016.

During the first seven months of 2017 the major buyer of Indian soybean meal is the EU 282,000 tonnes (3,000), followed by Bangladesh 101,000 tonnes (28,000), Japan 118,000 tonnes (16,000). Purchases are growing from countries like Nepal, Oman, Sri Lanka.

 

 However, export during the period is far lower than forecasts due to reduced farmer sales and low margin of processors. As a result, India's ending soybean stocks will reach a record 1.9-2.0 million tonnes.