Soybean export is small as local soybean cultivation is limited due to small cultivated areas and low profit from the exporting, an official of the Myanmar Pulses, Maize and Sesame Seeds Merchants Association said.
According to the pulses and sesame seeds market, soybean exports have decreased as the price of soybeans is higher domestically than abroad.
The Department of Agriculture invited EOI from companies on January 15 to export soybeans from Myanmar to China. Although Myanmar soybeans have gained a position in the foreign market, the soybean exports have decreased because of being not profitable for farmers and traders, U Soe Win Maung, advisor to the association said.
Locally grown soybeans are widely used domestically, and there are currently companies preparing to produce edible oil from the soybean and reuse the soybean meal in the livestock feed industry. Myanmar exports soybeans to China, Vietnam, India, and Thailand, but only 20 tons of soybeans have been exported in the current fiscal year.
