June 2-, 2007

India's 2006/07 soymeal exports seen lower on-year

India's 2006/07 soymeal exports are expected to total 3.5-3.6 million tonnes, down 14-17 percent on-year amid increased demand from the domestic poultry industry and reduced soybean availability for crushing.

3.115 million tonnes of the meal have been exported from October 2006 to May 2007, with an additional 400,000-500,000 tonnes expected to be exported in the remaining four months to the end of the 2006/07 season in September, said Soyabean Processors' Association of India (SOPA) representative Rajesh Agarwal.

In May, soymeal exports registered 121,000 tonnes, down 45 percent from 224,000 tonnes during the same period last year, SOPA said.

Agarwal said feed millers in south Maharashtra and Rajasthan states prefer selling to the domestic market over exporting due to proximity to the poultry industry, and more favourable domestic prices than export prices during the past month.

India exported more soymeal in 2006 due to lower domestic demand amid bird flu concerns, Agarwal commented.