Soyameal exports to Iran jump 85% to 9.64 lakh tonnes

Shipments to Iran during last year stood at 5.22 lakh tonnes: SOPA

India's soyameal exports to Iran have jumped 85% to 9.64 lakh tonnes during marketing year 2012-13 amid trade sanctions from the US.

Shipments to Iran during last year stood at 5.22 lakh tonnes, according to the data available with Soyabean Processors Association (SOPA).

"There has been a surge in the shipments to Iran after trade restrictions were imposed by the United States," SOPA spokesperson Rajesh Agrawal said.

Transaction between both countries in Indian rupee is another factor which pushed exports to the West Asian nation, Agrawal added.

In the marketing year ended last month, Iran has become the largest importer of soyameal from India.

Export of soyameal used as animal feed has increased sharply in September this year to 1.73 lakh tonnes from 2,864 tonnes in the same month last year.

However, the total exports of soyameal has declined by 4% to 34.73 lakh tonnes during the 2012-13 marketing year (October-September) from 36.23 lakh tonnes in the previous year due to lower availability of soyabean for crushing.

Japan, France, Thailand, Vietnam, Indonesia and Korea are the other major destinations for Indian Soybean meal exports.