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Informist, Monday, Jan. 13, 2025

 

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--SOPA: India Dec soymeal exports at 277,000 tn vs 274,000 tn 
--SOPA: India Oct-Dec soymeal exports at 518,000 tn vs 659,000 tn yr ago 
--SOPA: India Dec soymeal output at 868,000 tn vs 947,000 tn yr ago 
--SOPA: India Oct-Dec soymeal output at 2.41 mln tn vs 2.80 mln yr ago 
--SOPA: India Dec soybean arrivals unchanged on yr at 1.2 mln tn 
--SOPA: India Oct-Dec arrivals at 4.6 mln tn vs 5.2 mln tn yr ago 
 

 

 

 

 

MUMBAI – India's soymeal exports rose 1.1% on year to 277,000 tonnes in December from 274,000 tonnes a year ago, the Soybean Processors Association of India said in a release on Monday. However, soymeal exports in Oct-Dec fell to 518,000 tonnes from 659,000 tonnes a year ago, SOPA said.

 

India exported soymeal to more than 40 countries from October to December, with Afghanistan, Bangladesh, Iran, Kenya, Nepal, Sri Lanka, Uzbekistan and Vietnam being the major buyers, according to data released by the association. Production of soymeal in December fell to 868,000 tonnes from 947,000 tonnes a year ago. The output in Oct-Dec fell to 2.41 million tonnes from 2.80 million tonnes 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 1.2 million tonnes in December, unchanged from a year ago. During Oct-Dec, arrivals fell to 4.6 million tonnes from 5.2 million tonnes a year ago.

 

Global soybean meal output in 2024-25 is estimated slightly higher at 274.1 million tonnes from 272.5 million tonnes estimated earlier, according to the US Department of Agriculture report released on Monday. The US department has estimated India's soybean meal production in 2024-25 at 880,000 tonnes, compared with 904,000 tonnes a year ago. India is one of the largest importers of soyoil and an exporter of soybean meal.

 

"Domestic demand for soymeal has declined, with the poultry industry shifting a significant portion of demand to distiller's dried grains with solubles, which is more cost-effective, thereby putting additional downward pressure on soybean prices," Indrajit Paul, head of research of Agrocorp International, said.

 

Distiller's dried grains with solubles consist of undigested grain components resulting from grain ethanol fermentation. It is used as a feed ingredient substitute due to its high nutritional content and low production cost.

 

At the end of December, oil mills, traders, and farmers are left with around 8.9 million tonnes of soybean stock, down from 10.1 million tonnes a month ago, the association said. The meal stock at the end of December was 112,000 tonnes, against 131,000 tonnes a month ago. 

 

Soymeal is a by-product of the extraction of soybean oil which is primarily used as poultry and livestock feed. Indian soymeal is non-genetically modified and considered rich in protein. End

 

Reported by Anjali Lavania

Edited by Saji George Titus

 

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