December 16, 2013

India's Apr-Nov soymeal exports up 13.6% on-year

During November 2013, India's soymeal exports were 5.19 lakh (100,000) tonnes as compared to 5.17 lakh tonnes in November, 2012.

On a financial year basis, the export during April 2013 to November 2013 is 15.90 lakh tonnes as compared to 14.05 lakh tonnes in the same period of previous year showing an increase of 13.16%.

During current oil year, (October - September), total exports during October 2013 to November 2013 are 7.14 lakh tones as against 5.68 lakh tonnes last year, showing an increase by 25.70%.

Country-wise/port-wise export of soymeal, as provided by Soy Processors Association of India (SOPA), also approves the trend. The data has been collected and compiled by SOPA based on the information received from the members, port authorities and other agencies. The data does not include exports to Pakistan, Nepal and Bangladesh by rail or road.

Commenting on it, spokesperson & Coordinator of SOPA, Rajesh Agrawal, said, "I see three reasons behind the lacklustre performance of soy exports in November, which include less arrival, high prices and negative crushing margin. However, it will totally depend on the market how the things take shape in days to come". Still, he hoped that things may improve in the remaining part of the year.