Indias soy meal exports decline by 71.54% in OctJune period
Sai Nikesh | The Dollar Business Farmers engaged in soy cultivation are highly distressed as India’s soybean meal exports have dropped drastically by about 85% to a meagre 0.64 MT in 2014-15from a record level of 4.24 million tonnes (MT) during FY 2008-09, said a study by Associated Chambers of Commerce and Industry (ASSOCHAM). The study titled ‘Soybean: Time to regain lost ground’ pointed out that significant slump in soybean meal exports from India is largely on account of speculation and an unrealistic approach in handling established export markets. And looking at near normal monsoon, the country is expected to reap rich harvest of over 12 MT soybean meal by putting pressure on domestic prices,as India has become globally uncompetitive and import ...
