December 7, 2007

India soymeal exports up by 47 percent in November

India's soymeal exports in November totaled 531,268 metric tonnes, up 47.18 percent from 360,971 tonnes a year earlier.

The Soybean Processors Association of India (SOPA) reported that from April to November period, exports totaled 1.47 million tonnes, down 28.16 percent from  2.04 million tonnes a year earlier.

While exports to Vietnam, Japan, Thailand and China have increased significantly, those to Indonesia fell, the industry body said.

Rajesh Agarwal, spokesman for SOPA, said that favorable crushing conditions coupled with good demand from Southeast Asian and European countries boosted exports in November.

Agarwal pointed that India's exports for the current oilmeal marketing year that began in October are likely to touch 4.5 million tonnes due to a bumper crop this year compared with 3.53 million tonnes last year.

India is expected to harvest a bumper crop this year, as the total area under oilseed cultivation has risen to 17.60 million hectares from 16.47 million hectares last year.