SEA: Exports of Indian oil cake decreased by 51% in November; soybean meal export is unlikely in the next 2-3 months

The country's oil cake exports fell 51 percent to 1.62 million tonnes in November this year on sluggish soybean meal exports, industry body SEA said on Friday. Since India currently has higher export prices for soybean meal compared to other countries such as Brazil and Argentina, the country is unlikely to ship in the next two to three months, the statement said. In the same month last year, the country exported 3.32 million tons of oilcake. Oilcakes are used as animal feed in poultry farming and other industries. Soybean meal exports fell to 42,383 tonnes in November this year from 1 98,776 tonnes in the same period last year, according to the latest figures released by the Solvent Extractors Association (SEA). "The profitability of soybean processing in India is currently weakening due to pressure on meal prices and relatively high expectations from farmers for soybean prices, which are currently quoted above Rs 6,400 per centner," it said. Soybean meal for export at the port ...