SOYAMEAL MARKET UPDATE

Indian Soyabean Meal Exports and Domestic Consumption Trends:

In the ongoing marketing year 2023-24, soyabean meal exports from October to November 2023 increased by 35% compared to the same period last year, total 2 lakh metric tonnes.

Over the past two decades, Indian soyabean meal exports have experienced a decline at a Compound Annual Growth Rate (CAGR) of 5.4%, while domestic consumption has grown at a CAGR of 8.3%. This divergence can be attributed to several factors:

1.???? Changing Consumption Patterns:

o??? The increasing appetite for eggs, poultry meat, and fish has led to a surge in broiler, layer, and aquaculture production.

o??? Poultry meat production now constitutes 50% of India’s total meat production.

o??? India’s poultry sector is expected to grow at a CAGR of 8% over the next five years, reaching a market size of $5 billion.

o??? Egg production has risen significantly, from 1.83 billion in 1950-51 to 122.11 billion eggs in 2020-21.

o??? Shrimp production has also seen substantial growth, with a CAGR of 22.5% over the past decade, reaching 9.37 lakh metric tonnes.

If you’re keeping an eye on soyabean meal prices, here’s a quick update on the latest figures from the Chicago Board of Trade (CBOT) and the National Commodity & Derivatives Exchange (NCDEX).

·??????? CBOT (Chicago Board of Trade) trends in soyabean

Last Price: 337.8 USD/ton

High: 340 USD/ton

Low: 328.5 USD/ton

In Chicago, soyabean meal prices have been fluctuating within a relatively narrow range. The last reported price was 337.8 USD/ton, with a high of 340 USD/ton and a low of 328.5 USD/ton. These prices reflect the current market conditions and demand for soyabean meal in the region.

NCDEX SOYABEAN MEAL PRICE (National Commodity & Derivatives Exchange)

NCDEX: The spot price for Soybean Meal in Indore was reported at ?44,250/Metric Ton.

Over the past month, soyameal prices have gone up by 3%. Looking at the broader trend, prices declined by 5% in the past six months, and over the course of the last year, prices have been down by 15%.

2.???? India's Soyameal meal export scenario

The latest SEA report indicates that India's soyameal exports surged by 51% year-on-year in February '2024 to nearly 3.47 lakh metric tons and remained above the five-year average. During October '23 to February 24, the overall export of soyameal significantly increased by 102% to nearly 13.47 lakh tonnes as compared to the corresponding year at 6.65 lakh tonnes and remains above the five-year average. This surge was driven by the competitive pricing of Indian soyabean meal in the international market. However, currently, Indian

soyameal is overpriced as compared to Argentine soyameal, which may discourage soymeal exports in the upcoming months.

Conclusion: The soyabean meal market is showing a trend of steady prices with minor fluctuations as observed in the CBOT data. The NCDEX contracts indicate a gradual increase in prices over the coming months, suggesting a stable to slightly bullish outlook for soyabean meal prices. The consistency in contract prices could reflect market confidence in the commodity’s value?stability.

Why Rama Gum Industries (India) Ltd. For Soyabean meal?

When it comes to sourcing soyabean meal, Rama Industries stands out as the premier choice for discerning buyers. Renowned as the largest manufacturer and supplier of Guar Gum powder and Guar Gum Splits in Gujarat, India, Rama Industries prioritizes quality above all else.

Our packaging techniques ensure that the delicate soyabean meal remains in pristine condition, preserving its freshness and nutritional value for an extended?period.

When it comes to supply reliability, Rama Industries excels. We understand the importance of timeliness in the agricultural sector, and thus, ensure timely deliveries to meet our customers' demands.

We Believe in “Binding Relations through Ingredients”