Indore, The export of soymeal dropped sharply by 73 per cent to 25,000 tonne in July due to low production as there was a spurt in the cost of raw material in the country.
The country exported 93,000 tonne of soymeal in the same month of the last year, an official of the Soybean Processors Association of India (SOPA) said on Thursday.
The production of soymeal at oil plants reduced by 17.5 per cent to 4.79 lakh tonne in July. The total production of soymeal was 5.81 lakh tonne in July 2020.
According to processing industry insiders, oil plants cut down oil seeds processing due to high prices of soybean which impacted the overall production of soymeal.
After extracting oil from soybean, the leftover is called soymeal which is a major source of protein.
It is used for the production of soya flour, soya badi and also soymeal for animals and poultry feed. PTI
Trending
- Centre estimates 3.79 pc lower kharif rice production at 106.31 million tonnes
- Rains fills up dams in Rajasthan, water crisis unlikely next summer
- Parts of Rajasthan receive rain
- Several Rajasthan districts receive heavy rainfall in 24 hrs
- Rajasthan received 26 pc more-than-normal rain at start of monsoon
- Moderate to heavy rainfall at several places in Rajasthan
- Jeera futures increase
- Coriander futures decline on low demand
- Govt extends stock limits on edible oils, oilseeds till December
- Coriander futures up on spot demand