February 18, 2008

India's soymeal export declines but soyoil expands

Indian soymeal export has declined by more than 13 percent till January this year as compared to corresponding period last financial year.

 Total exports of soy meal from April'07 to January'08 is down at 2.74 million  tonnes compared to 3.17 million tonnes  during the same period last year, indicating a decline of 13.55 percent.

However, January's soymeal export was a 35-percent increase over the same month last year, rising to 724,000 tonnes from 535,000 tonnes.

On the other hand, edible oil has been doing commendably well in this current oil year (October - September), thanks to demand from East and South East Asian countries, according to Soy Processers Association of India (SOPA) Coordinator Rajesh Agrawal.

The exports during the period October'07 to January'08 was nearly 2.0 million  tonnes as compared to 1.73 million  tonnes, a 14-percent growth over the last year.

Two prominent markets were Vietnam and Japan where exports jumped 51.7 percent and 78.2 percent respectively.