Latest News | Soyameal Exports Drop 57 Pc in July Amid Tight Supplies: SEA
Get latest articles and stories on Latest News at LatestLY. India's export of soyameal, used as livestock feed, declined 57 per cent to 26,725 tonne in July as compared to the year-ago period, amid tight domestic supplies, industry body SEA said on Thursday.
New Delhi, Aug 19 (PTI) India's export of soyameal, used as livestock feed, declined 57 per cent to 26,725 tonne in July as compared to the year-ago period, amid tight domestic supplies, industry body SEA said on Thursday.
Exports are taking place at a time when the government is making efforts to facilitate early import of 12 lakh tonne soyameal to boost domestic supplies and check prices.
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The government has even cleared the air on import of genetically modified (GM) soyameal and traders have started placing import orders.
Releasing the latest oilmeal export data, Mumbai-based Solvent Extractors Association of India (SEA) said soyameal exports showed a decline in the last two months from 56,000-62,000 tonne level. "Record soyameal price (in domestic market) is affecting export and poultry farmers," he said.
SEA further said the government has considered the request of the Poultry Feed Breeders Association for allowing import of GM soyameal.
"This will give some relief to the poultry industry to overcome the shortage of soybean meal in the country," it added.
About 25,918 tonne of soyameal was shipped in June and 26,725 tonne in July, this year, SEA said adding soyameal export in July 2020 was 61,957 tonne.
Soyameal is the protein rich solid left after the oil is extracted from soyabean and is used as a raw material for poultry feed.
Besides soyameal, India exports other oilmeals like rapeseed meal, groundnut meal, rice bran extraction and castor seed meal.
In July this year, total export of oilmeal declined by 27 per cent to 1.91 lakh tonne, from 2.62 lakh tonne in the year-ago period.
However, during April-July period of the current financial year, oilmeal exports were up 10 per cent at 9.26 lakh tonne, compared to 8.41 lakh tonne in the same period of the previous fiscal year.
South Korea, Vietnam, Thailand, Bangladesh and Taiwan are major export destinations.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)