Global price disparity to cut India's soymeal exports by half in 2018

Soybean prices have jumped by 33 per cent after hitting a recent low of Rs 2,850 a tonne in December 2017

A sudden spurt in soybean prices has made Indian meal exports uncompetitive over the past one month, prompting exporters to forecast a 50 per cent decline in shipments this oil year (November 2017–October 2018).  

According to Indore-based Soybean Processors Association (SOPA), India's total soymeal exports skyrocketed to 2 million tonnes for oil year 2016-17 from a mere 320,000 tonnes during the previous year, when its shipment was hit due to crushing disparity. 

However, the country's growing soymeal exports are likely to be hit this year once again because of the lack of competitiveness. Soymeal has become expensive because of