Soyameal exports dip 92% to touch all time low of 7,707 tonnes

NEW DELHI: Soyameal exports touched an all time low of 7,707 tonnes in January this year, due to higher bean prices in the domestic market.

The export during April-January period of the current fiscal declined by 87 per cent to 69,266 tonnes compared to 5.35 lakh tonnes in the same period of previous year.

"The monthly soyameal exports have touched an all time low of 7,707 tonnes in January due to higher bean prices in the domestic market," Soybean Processors Association of India (SOPA) Chairman Davish Jain told PTI.

According to SOPA data, soyabean meal export declined by 92 per cent last month compared to 1.03 lakh tonnes in the year-ago period.

During current Oil year (October - September), total exports during October 2015 to January 2016 stood at 26,520 tonnes as against 4.38 lakh tonnes last year, a fall of 94 per cent.

Soyameal is mainly used as feed for poultry, cattle and also as aqua feed. The annual production in India is about 6 million tonnes.