Exports of soyabean meal from India in the oil year 2022-23 that ended in September jumped more than double to 18.4 lakh tonne amid a pick up in demand from South East Asian countries, a trade body said in a release issued on Monday.
Bangladesh, Myanmar, Pakistan, Nepal, Kuwait, Iran and the United States of America were the major buyers of Indian origin soyabean meal in the 2022-23oil year.
The oil year runs from October to September.
The country had exported 6.44 lakh tonne soyabean meal in the 2021-22 season.
‘Export of soyabean meal from India in the oil year 2022-23 stood at 18.4 lakh tonne, more than double from the last season’s export,’ said DN Pathak, executive director, Soybean Processors Association of India (SOPA).
Madhya Pradesh is a leading soyabean producing state contributing over 60 per cent to the national output.
Exports in the new oil year started on a higher note with 1 lakh tonne recorded in October, 2023, the note from the trade body showed. The country had exported 49,000 tonne soyabean meal in October last year.
An exporter from Indore, wishing not to be named said, ‘We eye to lock good deals this season because the crop was good barring some quality issues reported in some pockets of the state due to untimely rainfall. Local exporters are trying to lock deals with Iran and other South East Asian countries’.
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This article has been republished from The Times of India.