KOLKATA: India exported 70,822 tons of soybean meal in FY16, registering a decline of 89% over FY15, when soybean meal exports were 6,46,488 tons.
Exports of Soybean meal during March, 2016 was just 430 tons as compared to 46,670 tons in March, 2015, according to data released by Soybean Processors Association of India on Thursday.
The fall in exports is due to uncompetitive Indian soybean meal prices, owing to bumper soybean production in USA, Brazil and Argentina, enabling them to offer soybean meal at a much lower price than India.
During the first half of the current oil year - October 2015 to March 2016, total exports are 28,077 tons as against 5,49,627 tons last year, showing a decrease by 94.89%.
SOPA ha collected and compiled the data based on the information received from members, port authorities and other agencies. The data does not include exports to Pakistan, Nepal and Bangladesh by Rail or Road.
Source :economictimes.indiatimes.com
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