Iran, UAE and Bangladesh have emerged as the leading importers of Indian origin soyabean meal in the last six months, according to a body of soyabean processors and exporters.
Soyabean meal exports during October 2023 to March 2024 stood at 13.47 lakh ton as against 11.79 lakh ton in the corresponding period a year ago, according to Soybean Processors Association of India (SOPA).
Import of soyabean meal by Iran during October 2023 to March 2024 stood at 31.6 lakh ton, Bangladesh at 2.62 lakh ton and UAE 2.6 lakh ton, data by SOPA showed.
SOPA has upward revised the export of soyabean meal in the ongoing oil year to 18 lakh ton as against 14 lakh ton assessed last month.
D.N. Pathak, executive director, SOPA said “We have reassessed the export, import and crushing data, based on fresh information received and have reverted to our original estimate of crushing and soymeal export for the oil year at 120 lakh tons and 18 lakh tons.”
Pathak said, Iran, UAE, Bangladesh and Nepal were the four biggest destinations for Indian soymeal in the last six months.
Though, exports of soyabean meal in March slipped to 1.76 lakh ton, down from 3.27 lakh ton in the same period a year ago.
Madhya Pradesh is a leading soybean producing state in the country contributing over 60 per cent in total production and is a major trading center.
In the 2022-23 oil year, exports of soyabean meal from India were 18.4 lakh ton owing to a surge in demand from South East Asian countries, according to SOPA.
