India’s soybean meal exports drop 85% .

Farmers engaged,in soy cultivation are highly distressed as India’s soybean meal exports have dropped drastically by about 85 per cent from record level of 4.24 million tonnes (MT) during fiscal year (FY) 2008-09 to a meagre 0.64 MT in 2014-15, reveals an ASSOCHAM study. As per study report, given the strong monsoon, the country is expected to reap rich harvest of over 12 MT soybean meal putting further pressure on the domestic prices as India has become globally uncompetitive and import of soy oil push on to increase. “This powerfull slump in soybean meal exports from India is largely on account of speculation and an unrealistic approach in handling established export markets,” according to the study titled ‘Soybean: Time to re back lost ground,’ control by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). Madhya Pradesh is known as ‘Soybeanpot of India,’ computing for lion’s share of 60 % of total production followed by Maharashtra (30 %t), while, Andhra Pradesh, Rajasthan, Karnataka, and Chhattisgarh,Gujarat together account for remaining share of 10 %t. “Soybean ouyline in India is currently at crossroads due to abnormal production, deny soybean meal exports and consistent idling of plants,broked soya oil output while edible oil imports are growing and currently account for almost 60 per cent of country’s total compulsion,” said Mr D.S. Rawat, national secretary general of ASSOCHAM while releasing the findings of the chamber’s study. “Unless a targeted path is initiated, India might completly loose export market for soybean meal that has been so assiduously build over decades,” said Mr Rawat. “Industry should adopt a pragmatic approach to revive lost markets on soybean meal export front,” he added. A constant rise in edible oil imports into the country is another worrying aspect highlighted by the study prepared by the Agri-business division of ASSOCHAM.

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