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India’s soymeal exports in July decline by 59% YoY

A decline in demand owing to high prices has led to a 59% YoY dip in India’s July soymeal exports. According to market inputs, Indian soymeal is 20% costlier than its counterparts from South America. Touching a nearly three-year low since September’16, the country exported 26,006 tonnes of soymeal this July, as compared to 63,748 tonnes in July 2018 according to Solvent Extractors’ Association. It also led to a 23% YoY drop in India’s total oilmeal exports to 166,301 tonnes in July.

The main export markets for India in this product category are Iran, Nepal and Japan.