Soybean Processors Association of India asks the govt to raise import duty on refined and crude soyoil to protect the interest of domestic farmers, as soybean prices have dropped to a five-year low on the NCDEX. The association has asked the Centre to increase duty on crude soyoil to 37.5% and on refined soyoil to 45% from the current 12.5% and 20% respectively. Poor domestic as well as export demand for soymeal and likely bumper output pulled down soybean prices to a five-year low on the NCDEX. In April, exports of soymeal were at 0.11 million tonne vs 0.15-0.24 million tonne a month during Dec-March. India soybean output in 2016-17 (Jul-Jun) is likely to rise to 11.49 million tonne vs 6.93 million tonne in the previous year.