18 August 2021, New Delhi: Given below is a summary of the latest estimates of Supply and Demand of Soybean and Soybean Meal for the oil year 2020-2021 (October 2020 to September 2021) till July 2021 and a comparison of the same with the corresponding period of last season. In the last couple of months, huge volatility has been seen in the soybean complex and prices of soybean and soymeal have risen sharply, due to heavy speculation.
Last month, we had revised the domestic demand for soymeal to 48 lakh tons. However, we have undertaken a detailed exercise for demand assessment and find that the meal use is higher than earlier estimates. Imports have also been higher than expected. On higher prices, domestic consumption of soy products for food has been lower.
1. Import of Soybean estimated upward to 4 lakh tons from 3 lakh tons.
2. Crushing of Soybean revised upward to 95 lakh tons from 93.50 lakh tons.
3. Domestic meal consumption for Food uses have been revised downwards to 6 lakh tons from 6.5 lakh tons.
4. Domestic meal consumption for Feed have been revised upwards to 50 lakh tons from 48 lakh tons.
The other salient points of the S&D and comparative figures for the same period are given below:
Month-wise details of arrivals, crushing, exports and local consumption are attached.
Please note that the information given is based on data collected from various sources including government and trade. The numbers, however, are estimates only.