Soyameal exports touch all time high of over Rs 10000 cr

Exports of soyameal during the same period last year stood at Rs 7,745.36 crore: SOPA

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Exports of soyameal have jumped 37% to touch an all time high of Rs 10,588.43 crore in marketing year 2012-13 (October-September), mainly on the back of rupee depreciation.

 

Exports of soyameal during the same period last year stood at Rs 7,745.36 crore, according to the data available with Soyabean Processors Association (SOPA).

 

"Total realisation from exports this year was high despite fall in the quantity of exports, manly due to fall in the value of rupee against dollar," SOPA spokesperson Rajesh Agrawal said.

 

However, in quantitative terms, the total exports of soyameal declined 4% to 34.73 lakh tonnes during the marketing year 2012-13 from 36.23 lakh tonnes in the previous year on lower availability of soyabean for crushing.

 

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

 

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

 

Soyameal is mainly used as animal feed and India is Asia's biggest soyameal exporter.