Increased use of cost-effective Distillers Dried Grains with Solubles (DDGS) in poultry feed has reduced demand for soyabean meal, prompting the Soybean Processors Association of India (SOPA) to lower its domestic feed consumption forecast for the oil year 2024-2025 by 5%. SOPA revised its estimate for annual domestic soyabean meal consumption in feed to 63 lakh tonnes, down from 66 lakh tonnes. It also reduced its crushing estimate for the current marketing year by 5 lakh tonnes to 110 lakh tonnes.
Soyabean meal exports from India declined 35% in February to 1.54 lakh tonnes year-on-year due to reduced demand from key markets like France, Germany, and the Netherlands. In January, exports were 2.78 lakh tonnes.
