India exported around 471,000 tonne soymeal in December, 2013 which was lower compared with the same period last year, according to Soybean Processors Associations of India (Sopa).
Last year, in December Indian soymeal export stood at 511,000 tonne. "Soybean supplies in domestic markets are very low which is giving way to low crushing," said Rajesh Agrawal, spokesman and coordinator, Sopa.
Soybean is crushed to make soymeal and soyoil. Also, soymeal buying is requirement based as the South American soybean crop is on its way and global supplies are likely to be smooth in the coming months, added Agrawal.
According to Sopa data, major buying was from Iran which bought around 132,452.96 tonne of soymeal from Indian in December last year.
On a financial year basis, soymeal export during April 2013 to December 2013 stood at 2.06 million tonne compared with 1.97 million tonne in the same period last year, up 7.56 per cent.
During current Oil year (October 2013 - September 2014), total exports during October 2013 to December 2013 were 1.185 million tonne against 1.08 million tonne last year, up 9.73 per cent.
