China has shown interest in buying Soyabean de-oiled cake produced in Maharashtra and the initiative is likely to fetch higher prices for the crop than the minimum guaranteed price.
Soya de-oiled cake is a coarse granular material, produced from cleaned Soyabean seeds after a series of physical processes and multistage extraction.
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.
The demand for Soyabean de-oiled cake in China is 10 times higher than that available in India. That is why China can be a good market for Soyabean grown in the state. Maharashtra is one of the largest producers of Soyabean in the country.
Keeping in mind the interest of Soyabean cultivators, the Centre has announced a 10 per cent export promotional incentive (subsidy) as well. This would certainly help Soyabean growers to earn more as the export will also increase the demand in the domestic market.
Maharashtra Agricultural Price Commission president said about three million tonnes of Soyabean will be available for export from the country this year.