Soybean meal exports jump 276% in July

The export of soybean meal jumped 276 per cent on increased demand from large Asian giants including Indonesia, Vietnam, Japan and Malaysia. Total soybean meal exports surged to 284,990 tonnes in July this year as against 75,862 tonnes in the corresponding month last year, according to a release by Indore-based Soybean Processors Association (SOPA).

India’s exports to Indonesia during July increased almost 7 times when compared with exports during July while exports to Japan were placedtwo and a half times more during the same period.

Total shipment during the first quarter of the current fiscal (April - July) perked up by 180.35 per cent to 13,83,303 tonnes as compared to 4,93,424 tonnes during the same period last year.

 

The export of soybean meal during the oil year (October – September) basis shows again a good performance by the trade. Total shipment during the period October 2007 to July 2008 recorded a growth of 41.51 per cent to 46,07,222 tonnes from 32,55,692 tonnes in the same period last year.