Export of Soybean Meal — More than doubled in 2023-24


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Export of soybean meal surged in the year 2023-24, more than doubling compared to the previous period, reaching 21.33 lakh tons. This revival was fueled by the competitiveness of Indian soybean meal in the global market. However, as of April 15, 2024, Indian soybean meal Ex-Kandla was priced at US$ 490 per ton, while Argentine soybean meal CIF Rotterdam stood at US$ 417 per ton. This indicates a tough competition from Argentine suppliers, which might lead to a slowdown in the coming months.