Due to bumper production and higher demand abroad, India?s soyabean exports have increased significantly.
According to the data release on Thursday by Indore based Soyabean Processor Association of India (SOPA), the soyameal exports in April 2008 increased to 5.5 lakh tonne against 2.31 lakh tonne recorded a year ago, a hefty increase of 138%. ?We have been targeting countries of southern and eastern Asian regions for the lower freight charges. There has been substantial increase in exports during last month due to large production during 2007-08 and good demand from abroad,? Rajesh Agarwal, coordinator, SOPA told FE.
Agarwal said that the exports would decline from May till September as the availability of soyabean would be lower. Soyabean is grown during the Kharif season and harvest begins during September-October. During October 2007 and April 2008, the soyameal exports have risen by 26% at 3.7 million tonne as compared to 2.9 million tonne in the corresponding period last year, a SOPA statement said.
During April 2008, the soyameal exports to Thailand rose by more than whopping 324% at 75,034 tonne as against 17,685 tonne achieved in the previous year, while shipments to Japan grew by 122% at 77,888 tonne compared to 35,000 tonne last year.
According to SOPA, the soyameal exports to Vietnam was maximum at of 1,56,339 tonne against 1,04,661 tonne achieved during April 2007. The exports to Malaysia, Japan, China and Vietnam also recorded an increase. Soyameal exports to Malaysia rose to 75,174 tonne from 36,226 tonne, while to Japan grew to 6.39 lakh tonne compared to 3.97 lakh tonne.
Exports to China has jumped to 1.67 lakh tonne from 1.09 lakh tonne and to Vietnam increased to 9.72 lakh tonne from 6.41 lakh tonne.
As per the government’s third advance estimate, soyabean production is pegged at a record 9.4 million tonne during 2007-08 against 8.8 million tonne achieved in the previous year.