Soyafeed exports decline by 77.25 pc to 6,46,487 tonne

Export of soyafeed, a protein rich fodder, nosedived 77.25 per cent to 6,46,487 tonne during the last fiscal, according industry figures released here today.

This has resulted in a foreign currency loss by around 80 per cent, tumbling to Rs 2,022.26 crore in 2014-15, the Soyabean Processors' Association of India (SOPA) said.

According to SOPA data, India exported 28,40,875 tonne of soyafeed which fetched around Rs 9,976.41 crore in foreign currency in the fiscal 2013-14.

Export of soyafeed took a knock due bumper production in other countries at a time when Indian soyabean price was much higher, according to market experts.