Over 4 lakh tonnes of soya meal exported in October

With the continuous upswing in international demand for soya meal, India has exported over four lakh tonnes of this fodder feed in October this year.

India exported 4,09,987 tonnes of soya meal in the last month, as against 2,18,247 tonnes in this period last year, Soyabean Processors Association of India (SOPA) sources said.

Nearly 12,57,876 tonnes of soya meal has been exported in this financial year in the six-month period till October, an increase of 48 per cent over the export in the same period last year.

The Indian soya meal price is very competitive in the international market compared to that of the South American countries, and the market for the Indian export is steady, SOPA Convener Rajesh Agrawal said.

He said soya meal is available in good quantity in the market and its export is expected to touch 5-lakh tonne mark in November. 

Soya meal is rich in protein and is widely used as fodder and India is its biggest exporter in Asia, while Vietnam, Japan, Thailand and Indonesia are big importers of Indian soya meal.