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Informist, Thursday, Sep 12, 2024

 

--SOPA: India Aug soymeal output at 671,000 tn vs 639,000 tn yr ago 

--SOPA: India Aug soybean arrivals at 550,000 tn vs 600,000 tn yr ago 

--SOPA: India Aug soymeal exports at 153,000 tn vs 70,000 tn yr ago 

--SOPA: India Oct-Aug soymeal output at 8.9 mln tn vs 8.6 mln yr ago 

--SOPA: India Oct-Aug arrivals at 11.3 mln tn vs 11.2 mln tn yr ago 

--SOPA: India Oct-Aug soymeal exports at 2.1 mln tn vs 1.7 mln tn 

 

MUMBAI – India's soymeal exports rose 119% on year in August to 153,000 tn from 70,000 tn a year ago, the Soybean Processors Association of India said in a release today. For Oct-Aug, soymeal exports increased to 2.1 mln tn from 1.7 mln tn a year ago, SOPA said.

 

India exported soymeal to more than 70 countries from October to August, of which Bangladesh, Iran, Germany, and Nepal were the major buyers, according to data released by the association. In August, production of soymeal rose to 671,000 tn from 639,000 tn a year ago. The output in Oct-Aug rose to 8.9 mln tn from 8.6 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 550,000 tn in August, down from 600,000 tn a year ago. During Oct-Aug, arrivals rose to 11.3 mln tn from 11.2 mln tn a year ago.

 

By the end of August, plants, traders, and farmers were left with around 1.8 mln tn of soybean stock, down from 2.7 mln tn a month ago, the association said. The meal stock at the end of August was 141,000 tn, against 198,000 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 Manisha Baxla

 

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