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India's Soyameal Exports Soar by 8% Amidst Strong West Asian Demand.
Jun 19, 2024

Summary
 
India’s soyameal exports grew by 8% from October to May 2023-24, driven by strong demand from West Asia, reaching 16.41 lakh tonnes. Despite lower domestic consumption, crushing activities increased, and production rose to 68.26 lakh tonnes. Soyabean stocks decreased to 45.71 lakh tonnes, while imports and balance stocks saw a rise. Major buyers included Iran, UAE, Bangladesh, and Nepal.
 
Highlights
 
Increased Soyameal Exports: India’s soyameal exports surged by approximately 8% during the October-May period of the 2023-24 oil year. This increase was fueled by a growing demand from West Asia, with the total exports reaching 16.41 lakh tonnes compared to 15.16 lakh tonnes in the same period of the previous year. This highlights a robust international market for Indian soyameal despite domestic challenges.
    
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