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Informist, Monday, Jul 22, 2024

--SOPA: India Jun soymeal output at 710,000 tn vs 639,000 tn yr ago 

--SOPA: India Oct-Jun soymeal output at 7.5 mln tn vs 7.3 mln yr ago 

--SOPA: India Jun soymeal exports at 136,000 tn vs 81,000 tn yr ago 

--SOPA: India Oct-Jun soymeal exports at 1.8 mln tn vs 1.6 mln yr ago 

MUMBAI – India's soymeal exports rose 68% on year in June to 136,000 tn from 81,000 tn a year ago, the Soybean Processors Association of India said in a release today. For Oct-Jun, soymeal exports increased to 1.8 mln tn from 1.6 mln tn a year ago, SOPA said.

India exported soymeal to more than 70 countries from October to June, of which Bangladesh, Iran, Nepal, and the UAE were major buyers, according to data released by the association. In June, production of soymeal rose to 710,000 tn from 639,000 tn a year ago. The output in Oct-Jun rose to 7.5 mln tn from 7.3 mln tn a year ago, the association said. Soybean, a kharif oilseed, is sown in Jun-Jul and harvested in Oct-Nov.

Soybean arrivals in spot markets were at 850,000 tn in June, up from 800,000 tn a year ago. During Oct-Jun, arrivals were down at 9.8 mln tn from 9.9 mln tn a year ago.

By the end of June, plants, traders, and farmers were left with around 3.6 mln tn of soybean stock, down from 4.5 mln tn a month ago, the association said. The meal stock at the end of June was 245,000 tn against 231,000 tn a month ago. Soymeal is primarily used as poultry and livestock feed. Indian soymeal is non-genetically modified and considered rich in protein.

The data is collected from various sources, including government and trade. The numbers, however, are estimates only, the association said. End

Reported by Anjali Lavania

Edited by Akul Nishant Akhoury

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