The exports of soyabean meal during the period have declined by 43 per cent.

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Shashi Shekhar Kashyap

Consumption of soyabean meal has picked up from both domestic livestock feed and food sector on the growing demand for protein products.According to the Soybean Processors Association of India (SOPA) latest demand-supply estimates, the consumption of soyabean meal by domestic feed sector stood at 53 lakh tonnes during October-July period of the current oil year, an increase of around 2 per cent over corresponding last year’s 52 lakh tonnes. Similarly, the soyabean meal off-take by the food sector is up by 8 per cent at 7.40 lakh tonnes during Oct-July over corresponding last year’s 6.85 lakh tonnes.D N Pathak, Executive Director, SOPA, attributes the increased off-take of soyabean meal to the growth in poultry sector and the rising demand for protein foods. “Growing health awareness and rising income levels are fuelling demand for protein,” he said.Exports declineHowever, the exports of soyabean meal during the period have declined by 43 per cent at 9.72 lakh tonnes during Oct-July against same period last year’s 17.08 lakh tonnes as the Indian prices were higher than the global prices.Production of soyameal during Oct-July was down by around 7 per cent at 70.62 lakh tonnes over same period last year’s 75.75 lakh tonnes. The lower production could be attributed to lower market arrivals of soyabean on account of decline in crop last year.Soyabean market arrivals during Oct-July were down 13 per cent at 82.5 lakh tonnes against corresponding last year’s 95 lakh tonnes. However, the imports of soyabean saw a sharp increase at 8.94 lakh tonnes against corresponding last year’s 0.02 lakh tonnes. SOPA estimates stocks of soyabean at end July at 22.75 lakh tonnes.Crop condition goodMeanwhile, the sowing of soyabean crop in the ongoing kharif season has almost ended and as per the Agriculture Ministry’s latest data the acreage stood at 121.35 lakh hectare against as on August 21, down marginally over corresponding last year’s 122.76 lh.States such as Uttar Pradesh, Karnataka, Gujarat, Telangana and Andhra have seen an increase in soyabean acreage, while large producers such as Madhya Pradesh, Maharashtra and Rajasthan have seen a decline.