Soymeal exports up 53% in three quarters of FY09

Written by Commodities Bureau | New Delhi | Updated: Jan 8 2009, 04:02am hrs
Indias soymeal exports rose sharply by more than 53% during the first three quarters of 2008-09, Indore-based body, the Soyabean Processors Association (SOPA), said on Tuesday. Exports of soymeal, which is widely used for human consumption and poultry feed, during April - December 2008 went up to more than 3 million tonne against more than 2 million tonne recorded during the same period in 2007-08.

According to a SOPA official, soymeal exports during April-December were 30,85,559 tonne as compared to 20,16,450 tonne achieved in 2007-08. Countries like Thailand, Singapore, Vietnam, Japan and Korea were the major exports destinations for Indian soyameal.

Indias soymeal exports to Thailand increased by 261% when compared with exports during the same period last year while export to Singapore increased by 116%, to Vietnam 102%, to Japan 99%, to Korea 92%, to Indonesia 86% and to China 63% compared with export during the same period last year, SOPA said in a statement.

Soymeal exports during December 2008 went up to 6.65 lakh tonne in comparison to 5.51 lakh tonne a year ago. The exports during the first quarter of the oil year 2008-09 (October-September) too, witnessed soyameal shipments rising to 1.4 million tonne, against 1.25 million tonne in the year-ago period, SOPA said.

The countrys soymeal exports during the current fiscal is expected to be range of 5 - 5.5 million tonne, Rajesh Agrawal, spokesperson, SOPA, said. He said that the global financial slowdown would not impact exports as soymeal, as the agri commodity was mostly used for animal consumption.

Soymeal exports rival sales from Brazil and Argentina and India exported 5 million tonne last year. Out of 9 million hectare under soyabean, more than 4 million hectare are in Madhya Pradesh, while 2.7 million hectare and 0.7 million hectare are under soyabean in Maharashtra and Rajasthan.