Comments
Soyabean crushing has picked up with its arrivals across various mandis (markets) in the key producing States of Madhya Pradesh, Maharashtra and Rajasthan improving.
During the October-December quarter of 2022, soyabean crushing increased by 51 per cent to 32.50 lakh tonnes compared with 21.50 lakh tonnes a year ago, The Soyabean Processors Association of India (SOPA) said in a statement.
Market arrivals till the end of December increased to 50 lakh tonnes (lt) compared with 40 lt a year ago.
With the increase in crushing, the production of soyabean meal rose to 26.10 lt during the October-December 2022 quarter — up 52 per cent over 17.16 lt a year ago.
Feed consumption up
Exports of soyameal surged 49 per cent to 4.06 lt during the period. Consumption by the feed sector increased to 18.50 lt — up 12 per cent over 16.50 lt a year ago. Similarly, the offtake by the food sector rose by 43 per cent to 3 lt (2.10 lt).
Soyabean stocks with crushing plants, traders and farmers as on January 1 stood higher at 98.83 lt, which is up 15 per cent a year ago. Imports of soyameal during the period decreased sharply to 0.01 lt against 3.79 lt.
With a higher carry forward stock of 25.15 lt for the oil year 2022-23 (October-September), and a higher crop of 120.40 lt, the total availability of soyabean for the season is estimated at 145.55 lt — up 20 per cent over 120.72 lt a year ago.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.