Soybean meal is the most used vegetable protein feed in the production of animal feeds. Soybean is sent for crushing to get oil and cake which is further sent to extraction for removal of residual oil and to obtain its meal. Soybean meal is considered premium to other oilmeals due to high protein content.
Soymeal Producers: United States is the largest producer of soybean meal in world followed by China and South American countries, Brazil and Argentina. Generally, U.S. contributes 26% of the world soybean meal production followed by China (20%), Argentina (17%), Brazil (14%) and European Union - 27 (6%) while India's total production is estimated at 3% of the world production. As China imports large quantities of beans to crush at home for meeting its increasing demand for protein meal, in near future it is set to become the world's largest producer of soybean meal.
Soybean meal Exporters: Argentina is the biggest exporter followed by Brazil, United States and India. Paranagua (Brazil), Nola (United States), Buenos Aires (Argentina) and Kandla (India) are major ports of exports for soymeal. There is a export tax of 32% on Argentine soybean meal. World supply and demand alongwith the freight factor plays the important role in determination of sbm prices.