Soyameal exports down 82% in April-July 2014

Poor monsoon, coupled with soaring domestic prices, has taken a toll on soyameal exports in the current financial year. However, a spell of rains persistent since last two days in soya-growing areas has brought fresh hopes for the farmers.

On one hand some soyameal exporters are apprehensive of further decline in exports; Indore-based Soyabean Processors Association of India (Sopa) has said crop condition was not that bad.

"It would be premature to predict about soyameal exports and crop yield for coming season as a fresh spell of rains have raised hopes among farmers and the industry. At present, the crop is in good condition. The exports are likely to decline but it would stay near 3 million tonne," Rajesh Agrawal, Sopa spokesperson said.

According to Sopa in the current year, soyameal exports during April-July 2014 stood at 93,000 tonnes against 518,000 tonnes in the corresponding period last year, showing a decline of 82 per cent.

As per data released by Solvent Extractors' Association of India (SEAI) total export of oilmeals during April-July 2014 stood at 721,577 tonnes compared to 1,038,819 tonnes last year, down by 31 per cent. In July 2014 export of oilmeals stood at 115,094 tonnes as against 182,133 tonnes in July 2013 a decline of 37 per cent.

"Export of soybean meal greatly reduced in last three months due to high cost of soybean in local market which lead to total disparity for soybean meal in international market," SEAI had said.

"Lack of rains since last fortnight is putting the soybean crop which is in the flowering stage under stress. Rainfall in the coming week and one spell in mid-September would be crucial for this year's crop," said Raju Choksi, Vice-President (Agri Commodities), Anil Nutrients Ltd. in a statement. Raju is a soymeal exporter based in Ahmedabad.

A recent spell of rain has given a fresh lease of life to the crop which is currently in flowering stage.