Soymeal exports dip 30% in October

Soymeal exports declined by over 30 per cent to 1.7 lakh tonnes last month compared with 2.44 lakh tonnes in the year-ago period, an industry body has said.

"The exports of soymeal stood at 1,70,452 tonnes for October 2007," Indore-based Soybean Processors Association (SOPA) said in a release.

The exports of soymeal, which is used as animal feed, were 2,44,397 tonnes in October 2006. The soybean year runs from October to September.

The exporters attributed the dip to delay in commencement of soybean processing in major areas of Madhya Pradesh and Maharashtra.

"The processing plants started their operations late, around second half of October, resulting in lower exports," SOPA Coordinator Rajesh Agrawal said.

Soyameal exports are, however, expected to rise during November at about 4-4.5 lakh tonnes.

During October 2007, Vietnam imported 54,900 tonnes of soymeal from India, followed by Japan 44,200 tonnes, China 34,381 tonnes, Iran 12,645 tonnes and Indonesia 12,635 tonnes.

India exported 35.26 lakh tonnes soymeal last year and is expecting overseas sales of about 45 lakh tonnes in the 2007-08 season due to bumper output of soybean. The export to China alone is estimated at about four lakh tonnes.

SOPA has pegged the soybean production in Kharif 2007 at 94.73 lakh tonnes, up 32.5 per cent, compared with last year's output of 71.49 lakh tonnes.

The soyameal output is expected at about 67-68 lakh tonnes in the current season, of which 20-22 lakh tonnes would be consumed by the domestic poultry industry, while the remainder would be exported.