Soyameal export jumps 68.4% in Sept

Soyameal exports in September rose sharply by 68.4 per cent to 2.9 lakh tonnes, compared to 1.7 lakh tonnes in the same month last year, the Soyabean Processors Association of India (SOPA) has said.

The total export of soyameal, used mainly as animal feed, during the oil year ended on September, 2010, stood at 2.3 million tonnes, as against 3.21 million tonnes last year down by 26.96 per cent. 

The oil year runs from October to September. Soyameal is obtained from crushing soybean, which is an important source of protein for people.

Earlier, SOPA has projected a 30 per cent decline in India's total soyameal exports in the current-oil year ended September to 2.3 million tonnes due to lower availability of soyabean for crushing.

 

The country had exported 3.21 million tonnes of soyameal in 2008-09 oil year (October-September). In value terms, the exports stood at Rs 5,686 crore.

Due to the lower crushing activities in the current oil year, exports of soyameal was expected to remain low in the the oil year under consideration, SOPA Coordinator Rajesh Agrawal had said. 

He said farmers holding back supplies in anticipation of rise in soyameal prices, which are already high in domestic markets, was primarily responsible for the slowdown in export activity.

In India, Madhya Pradesh, Maharashtra, Rajasthan and Andhra Pradesh are the major producers of soybean.