The export of soymeal dropped sharply by 73 per cent to 25,000 tonne in July due to low production as there was a spurt in the cost of raw material in the country. The country exported 93,000 tonne of soymeal in the same month of the last year, an official of the Soybean Processors Association of India (SOPA) said on Thursday.
The production of soymeal at oil NSE 1.37 % plants reduced by 17.5 per cent to 4.79 lakh tonne in July. The total production of soymeal was 5.81 lakh tonne in July 2020.
According to processing industry insiders, oil plants cut down oil seeds processing due to high prices of soybean which impacted the overall production of soymeal.
After extracting oil from soybean, the leftover is called soymeal which is a major source of protein.
It is used for the production of soya flour, soya badi and also soymeal for animals and poultry feed.
Source:economictimes.com