India in 2022/23 MY increased the export of soybean meal by 65%

Published 2023년 2월 16일

Tridge summary

India has seen a significant increase in soybean meal exports in the current marketing year, with a 65% rise compared to the previous season, reaching 631 thousand tons. This is nearly the same volume as the total exports of the previous year. The increase is attributed to low oilseed production in Argentina, a major exporter, and competitive pricing of Indian soybean meal. The main importers of Indian soybean meal have been Bangladesh, Vietnam, and Nepal, and exports are expected to remain high until mid-April. There is potential for India to export over 2 million tons of soybean meal in the current marketing year, which is more than three times the volume of the previous season.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Soyabean Processors Association of India (SOPA), since the beginning of MY 2022/23 (October to January), India has shipped up to 631 thousand tons of soybean meal to foreign markets, which is 65% higher than the result in the specified period of the previous season and practically corresponds to the volume of exports of the product for the entire previous year (644 thousand tons), according to Reuters. Experts note that soybean meal exports from India are increasing due to low oilseed production in Argentina, which is the largest exporter of this product in the world, and more competitive prices for the Indian product, which costs $580-585 per ton FOB compared to $598 per ton FOB for products from Argentina. It is also indicated that the main buyers of Indian soybean meal this season are Bangladesh, Vietnam and ...

Source: Zol