By laksh5382 
Soymeal exports rose 16 per cent to 21.28 lakh tonnes during the 2023-24 oil year ending in September due to higher demand from countries like Iran and Bangladesh. During the last year, soymeal Shipment stood at 18.36 lakh tonnes.
The increase in shipments is despite the fact that Indian soymeal was costlier by around $100-150 per tonne in the world market.
Iran was the largest buyer with a quantity of about 4.15 lakh tonnes, followed by Bangladesh with 3.02 lakh tonnes. Nepal was the third largest buyer with a quantity of 1.92 lakh tonnes followed by Germany with 1.06 lakh tonnes and Afghanistan with 85,181 tonnes.
DN Pathak, executive director of Soybean Processors Association, said, “In view of the demand from Iran, Bangladesh and Nepal, the export of soybean meal during this oil year was 15.90 percent higher than last year, resulting in better crushing and production of soybean meal. Happened.” of India (SOPA).
Soybean cake production during the year increased to 94.69 lakh tonnes, which is more than 91.79 lakh tonnes in the previous year. Latest estimates revealed by SOPAImport of soyameal declined marginally to 0.25 lakh tonnes during the year, which is less than 0.27 lakh tonnes in the same period last year.
Domestic consumption by the feed sector during the oil year 2023-24 was slightly lower at 66 lakh tonnes, down from 67 lakh tonnes in the previous year, while offtake by the food sector was stable at 8 lakh tonnes.
For the current oil year 2024-25, SOPA expects soybean production to increase by about 6 per cent to over 125.8 lakh tonnes from 118.74 lakh tonnes last year due to higher yields. This is mainly due to higher yields due to favorable weather conditions. According to the recent survey conducted by SOPA in major producing states like Maharashtra, Madhya Pradesh and Rajasthan, the yield is estimated to be higher at 1063 kg per hectare this year compared to 1002 kg per hectare last year.