Soybean meal exports rise two times to 20.4 lakh tonnes in 2020-21

Indore,  India”s soybean meal (soybean khali) export rose nearly twice to 20.37 lakh tonnes in the financial year 2020-21 due to competitive prices.

In 2019-20, soybean meal exports stood at 9.84 lakh tonnes, an official of Indore-based Soybean Processors Association of India (SOPA) said on Wednesday.

SOPA Chairman Davish Jain told PTI that in the financial year ended March 31, the prices of soya meal in Brazil, the US and Argentina increased for different reasons.

He said, “India benefited on the export front as the prices of soybean meal of Brazil, the US and Argentina rose in the international market.”

This brought the prices of the soy meal of India to a competitive range, Jain said.

As a result, there was a big increase in India”s soy meal exports from November to February.

“Experts said that Brazil, the US and Argentina are the world”s top soybean producers and recognised as major players in the soy meal market,” he said.

Their soy cakes are generally cheaper than India.

The leftover product after extracting soybean oil is called soybean meal, which is a major source of protein.

Apart from birds and animal feed, it is also used for making food products like soy flour and soyabean. PTI