Exports of soyabean meal from India in May fell to 1.18 lakh tonne, lowest in 7 months on poor demand from South-East Asian countries, according to a body of soyabean processors and exporters.
Soyabean exports in May fell 33 per cent from the past month, said Soybean Processors Association of India (SOPA).
SOPA executive director DN Pathak said, “As per the data sourced from govt and trade, exports of soyabean meal from India in May fell to 1.18 lakh tonne, lower than exports in April at 1.76 lakh tonne.”
The export of soyabean meal in the October 2023 – May 2024 period stood at 16.41 lakh tonne as against 15.16 lakh tonne in the corresponding period a year ago.
The United Arab Emirates bought 51,959 MT, Nepal 12,528 MT, Afghanistan 9,780 MT, Bangladesh 8,137 MT and Japan 5,277 MT of soyabean meal from India in the month of May, according to the trade body.
Export to Iran in May dropped significantly from 62,859 MT in April, the data showed.
“Export enquiries have been good in this season from traditional Asian buyers. We are hoping to export a good quantity this oil year,” said an exporter wishing anonymity.
SOPA has upwardly revised the export of soyabean meal in the ongoing oil year to 18 lakh tonne as against 14 lakh tonne assessed earlier.
Madhya Pradesh is a leading soyabean cultivation state and is home to several leading soyabean meal exporters.