Soyameal exports during the October-January period were down 64 per cent on lower crushing and disparity in prices, trade body Soyabean Processors Association of India (SOPA) said on Friday.
Exports of the soyameal in the first four months of the oil year 2021-22 (October-September) were 3.62 lakh tonnes (lt) compared with 10.03 lt in the same period last year.
Domestic consumption
Also, the domestic offtake from the feed sector was lower by five per cent at 20 lt ( 21 lt). The lower domestic demand could be attributed to the cheaper imports of the soyameal that the poultry sector made in the recent months. The sector imported about 4.4 lt of soyameal during October-January period compared with 0.01 lt in the same period last year.
Besides, the production of soyameal has witnessed a decline of around 40 per cent due to the lower availability of soyabeans. Farmers, stockists and traders are holding back soyabeans expecting an increase in prices. This has led to lower production of soyameal at 21.95 lt during October-January compared with the same period last year's 36.72 lt.
Dip in arrivals
DN Pathak, Executive Director, SOPA, said arrivals at mandi and crushing have been lower than usual, mostly because of lower meal demand and disparity in crushing.
Mandi arrivals of soyabean during the period are estimated at 48 lt (64 lt) in the same period last year. Crushing was lower at 27.5 lt (46 lt).
Interestingly, the domestic demand for soyabean meal has witnessed an increase during this period. The food segment has witnessed an increased offtake of 2.7 lt (2.1 lt).
Pathak said due to the pandemic people have become more diet-conscious and using more of soya food.
As per SOPA, the 2021-22 crop is estimated at around 119 lt, about 14 per cent higher than last year's 104.55 lt. Including the carry-forward stocks and imports, the total crop is estimated at 124.72 lt (115.19 lt). After factoring in the seeds for sowing, the total availability for crushing is pegged at 112.72 lt (100.19 lt).
SOPA said farmers, stockists and traders continue to hold a stock of 84.07 lt, as of February 1. As per the e-NAM data, modal prices of soyabean are ruling between ₹4,596 and ₹6,800 per quintal in various mandis of Madhya Pradesh and Maharashtra.