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India's Soyameal exports dip 92% to 7707 tons in Jan: SOPA

08 Feb 2016 Evaluate

Soyameal exports touched an all time low of 7,707 tons in January this year, due to higher bean prices in the domestic market. The export during April-January period of the current fiscal declined by 87% to 69,266 tons compared to 5.35 lakh tons in the same period of previous year.

Soyabean meal export declined by 92% last month compared to 1.03 lakh tons in the year-ago period, as per the data of Soybean Processors Association of India (SOPA). During current Oil year (October - September), total exports during October 2015 to January 2016 stood at 26,520 tons as against 4.38 lakh tons last year, a fall of 94%.

Soyameal is mainly used as feed for poultry, cattle and also as aqua feed. The annual production in India is about 6 million tons.