With Soaring Demand, China Looks To Maharastra For Soyabean Imports

In what will be a very welcome development for Maharastra’s soyabean farmers China has expressed interest in purchasing soyabean de-oiled cakes from the state. This move will help the crop fetch higher prices than the ascribed minimum guaranteed price. China’s Consul General Tang Gochai held a meeting with Chief Minister (CM) Devendra Fadnavis in Mumbai to discuss the issue.

CM Fadnavis has said that an independent officer is going to be put in-charge to have conversations with China on the matter. Earlier, the central government had announced a 10 per cent subsidy on exports, as a promotional offer.

“One quintal soybean produces 18 kg oil and 82 kg of de-oiled cake, so the price of the de-oiled cake is more important to a cultivator than the oil rates,” an official said, according to the Financial Express.

“The centre has also increased the import duty on various oils, including soyabean, crude palm, and refined palm oils, that eventually benefit the local soyabean cultivators,” he added. The soyabean grown in the state is non-genetically modified, and that is the reason for high demand.

Maharashtra Agricultural Price Commission president Pasha Patel claims that about 30 lakh tonnes of the product will be available for export adding that the demand in China is ten times more than that of India.