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.