Oil Processors, Us Body Join Hands To Promote Soya Foods

The US Soyabean Export Council (USSEC) has joined hands with the Soya Oil Processors Association (SOPA) of India to make Indians consume more soya food, though the two seem to have conflicting interests - one is seeking to boost exports to India and the other is hoping to increase the consumption of locally-produced commodity.

The two bodies signed a memorandum of understanding on Saturday to increase soya bean consumption in India, both as human food and as feed by the poultry and aquaculture industries. The Indian soya bean industry has interest in boosting the local demand as it is struggling to increase exports of soya meal. "Because of the import of cheaper soya oil in the country, our realisation from oil has reduced. As a result, soya feed, the other byproduct of soya bean processing, has become expensive, out-pricing us in the export markets," said SOPA chairman Davish Jain.

Last year, soya bean processors were not able to export their desired quantity and the industry survived on local demand.

Of the eight million tonne soya meal production in the country, only five million tonne is consumed locally. For the rest, the processors have to depend on exports. Increasing local consumption is one way for the industry to reduce dependence on export markets and that is what it is hoping from the tie-up with the US council.

The USSEC, meanwhile, is willing to spend its resources to develop demand in India because it sees the country as a big future market for the exports of US soya bean. Also, if the local demand for soya meal goes up, Indian processors will vacate their ex port markets, creating space for US producers.

For the local association, working with the USSEC involves risk of cheaper imports from the US. The US grows genetically-modified soya bean, which has higher yields than India's open-pollinated straight varieties. Both the bodies plan to work with the Centre to include soya bean food in its social welfare projects such as mid-day meal and the Integrated Child Development Services programmes, educate people about soya food and develop new soya food products.

Source:economictimes.indiatimes.com