India’s exports of soybean meal over April-December 2015 slipped by 86 percent to 61,556 tonnes from 444,736 tonnes a year earlier, according to the Solvent Extractors’ Association of India (SEA).
The drop was due to disparity in prices and high prices in the domestic market. The slump comes close on the heels of the peak reached in exports in 2013-14, when they touched 2,010,788 tonnes.
Soybean exports during December 2015 were 5,667 tonnes, down 97 percent year-on-year from 194,012 tonnes a year earlier, the association said.
It said crushing mills were on the verge of shutting down and running at low capacity due to the poor exports volumes.