India's Soybean Meal Exports Maintain Competitive Edge

India's soybean meal exports slightly increased to 2.78 lakh tonnes in January 2024, with France being a significant importer. SOPA reported that the country's soybean meal remains competitively priced compared to the US, Brazil, and Argentina. A total of 7.96 lakh tonnes were exported in the first four months of the current oil marketing year.

Soybean meal exports from India experienced a slight uptick in January, reaching 2.78 lakh tonnes. France emerged as a key market, importing nearly 20% of the total exports.

According to the Soybean Processors Association of India (SOPA), January's export figures showed a marginal increase from 2.75 lakh tonnes. SOPA's Executive Director, DN Pathak, emphasized that India's soybean meal prices remain competitive when compared to major producers like the US, Brazil, and Argentina.

SOPA data reveals that the first four months of the current oil marketing year saw exports of 7.96 lakh tonnes of soya cake, marking a 15% decrease from the previous year's comparable period. Post-extraction of soybean oil, soya cake emerges as a vital protein source, which is further processed into products like soya flour, soya chunks, and animal feed.

(With inputs from agencies.)