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Palm Oil (CPO) News - Soymeal Exort Update
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Soymeal Exort Update

According to Solvent extractor association of India, India’s December’2021 soymeal exports declined by 83% to 43,260 metric tonnes compared to   2,51,221 metric tonnes in the same period last year. Further, the soymeal shipments too declined by 70% to 2,62,337 metric tonnes in aggregate, during the months (April-Dec.) of financial year 2020-21 compared to 8,88,202 metric tonnes during the corresponding period last year. Export remained lower because of soybean crush margins in India are currently squeezed by pressure on meal prices. Additionally, lesser crushing of soybean also pushing higher import of crude soybean oil in India.We expect lower soymeal export in January and February too as Indian soymeal prices are much higher as compared to Argentina and Brazil FOB prices.