Soybean Crushing Decline: SOPA Report

14-Jan-2025 08:33 AM

Soybean Crushing Decline: SOPA Report
According to SOPA, soybean crushing reached 3.05 million tons by December, 14% lower than the previous year.
During the same period last year, 3.55 million tons were crushed.
Soymeal exports totaled 2.77 million tons by December, with a slight increase from 2.74 million tons in December alone.
Demand emerged from some European Union countries, with deals made at reduced prices.
Soybean arrivals by the end of December stood at 4.6 million tons, 11% lower than last year's 5.2 million tons.
Due to lower arrivals and reduced crushing, October-December crushing was 2.4 million tons, down from 2.8 million tons last year.
Domestic consumption increased marginally from 2.1 million tons to 2.5 million tons, while feed consumption decreased.
Government agencies procured 884,000 tons of soybeans: 388,000 tons from Madhya Pradesh, 310,000 tons from Maharashtra, 83,000 tons from Telangana, 51,000 tons from Rajasthan, 32,000 tons from Gujarat, and 18,000 tons from Karnataka. The total procurement target for the year is 3.385 million tons.