High prices of soyabean meal in the international market have hit overseas shipment, denting exporters missing out on the peak export season.
Soyabean meal exports in December are estimated at 90,000 ton as against 3.4 lakh ton in the corresponding period a year ago, according toSoybean Processors Association of India(SOPA). So far in the current oil year until December 3.8 lakh ton soyabean meal is exported from the country as against 6.9 lakh ton in the same period.
Exporters fromIndore, a leading trader center and hub for soyabean meal exporters asMadhya Pradeshis a leading producer of soyabean in the country contributing over 60 per cent in the countrys total output, has claimed a sharp decline in export orders for the next two-three months owing to high prices of local produce.
Exporters said local origin soyabean meal is expensive by about $250-$300 per ton as compared with other countries like Brazil and Argentina.
SOPA had estimated soyabean output at 119 lakh ton, up 14 per cent from the previous year. In Madhya Pradesh, soyabean production was estimated at 52 lakh ton as against 41.7 lakh ton last year.