Owing to an increase in soybean arrivals in the markets, India was expected to export about a million tonnes of soymeal between June and September, an expert has said.
For the first seven months of the 2009-10 oil year, (October–September) soymeal exports stood at 1.6 million tonnes, down 41 per cent compared to the corresponding period previous year.
“Now there is sufficient bean in the market as arrivals have picked up. If this continues, then perhaps we will be able to ship eight-ten lakh tonnes of soymeal from June-September in the best situation,” Soybean Processor Association of India (Sopa) Spokesperson and Coordinator Rajesh Agarwal said.
He added that an increase in arrivals was likely to lower prices of soybean and make it viable for processing units to produce soymeal.