NEW DELHI: India’s soyameal exports touched an all-time low of 1,127 tonnes last month on account of higher bean prices in the domestic market. The exports during the April-February period of the current fiscal declined 88.26 per cent to 70,392 tonnes compared with 5.99 lakh tonnes in the same period last year.
“Soyameal exports have continued to decline from last few months and touched an all-time low of 1,127 tonnes in February due to higher bean prices in the domestic market,” Soyabean Processors Association of India (SOPA) Chairman Davish Jain told PTI.
According to SOPA data, soyabean meal export declined by 98 per cent last month compared with 1.03 lakh tonnes in the year-ago period. During current oil year (October-September), total exports during October 2015 to February 2016 was 27,647 tonnes as against 5.02 lakh tonnes last year, a decline of 94.50 per cent. Soyameal is mainly used as feed for poultry, cattle and also as aqua feed. The annual production in India is about 6 million tonnes.
