Soyabean Prices: Indian soyabean meal exports down by 86%.

Ahmedabad: The latest data compiled by the Solvent Extractors' Association of India (SEA) revealed that in the first nine months of 2015-16, export of soybean meal has touched a historical low at 61,556 tonnes down 86 percent from 4,44,736 tonnes in the same period last year.

The export of Soybean meal during the month of December, 2015 stood at 5,667 tonnes as compared to 1,94,012 tonnes in December, 2014 showing a steep fall of 97 percent over the same period of last year.

Due to higher prices, Indian soybean meal remained non-competitive in the international markets. According to separate compilation by The Soybean Processors Association of India (SOPA), India's total exports during current Oil year (October – September 2015-16), so far only 18,814 tonnes has been exported as against 3,34,508 tonnes last year, showing a decrease by 94.37 percent.

Currently FOB/FAS Indian soybean meal is quoted at US $ 490 per tonne against Argentina origin soybean meal CIF Rotterdam at US $ 331 per tonne.

Source: http://www.thehindubusinessline.com/