Agri Tips : Soybean Exports Drop 85% Reports As On 17 July, 2015

Agri Tips - Farmers engaged in soya cultivation are highly distressed as India’s soybean meal exports have dropped drastically by about 85 per cent from record level of 4.24 million tonnes (MT) during fiscal year (FY) 2008-09 to a meagre 0.64 MT in 2014-15, reveals an ASSOCHAM study. As per study , given the strong monsoon, the country is estimated to reap rich harvest of over 12 MT soybean meal putting further pressure on the domestic prices as India has become globally uncompetitive and import of soy oil continues to increase. This significant slump in soybean meal exports from India is largely on account of speculation and an unrealistic approach in handling established export markets, according to the study titled ‘Soybean: Time to regain lost ground,’ conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). 

 

Madhya Pradesh is known as ‘Soybean bowl of India,’ accounting for lion’s share of 60 % of total production followed by Maharashtra (30 %), while Rajasthan, Karnataka, Andhra Pradesh, Chhattisgarh & Gujarat together account for remaining share of 10 %. Soybean scenario in India is presently at crossroads due to erratic production, declining soybean meal exports while edible oil imports are growing and currently account for almost 60 % of country’s total requirement, said by Mr D.S. Rawat, national secretary general of ASSOCHAM while releasing the findings of the chamber’s study. “Unless a targeted approach is initiated, India might permanently loose export market for soybean meal that has been so assiduously build over decades,” said by Mr Rawat.Click Here For More Agri Tips