January 8, 2007

India's Q4 2006 soymeal exports up 38.1 percent on-year

India's soymeal exports in the quarter ended Dec 2006 are estimated at 1.45 million   tonnes, up 38.1 percent from 1.04 million tonnes a year earlier, the Soybean Processors Association (SOPA) of India said Friday (Jan 5).

Exports in December are estimated at 615,028 tonnes, up 14.05 percent from 539,240 tonnes a year earlier.

India's marketing year for soymeal runs from October to September. SOPA is the lobby group of local processors of soybeans.

Exports of soymeal between April and December are estimated at 2.89 million tonnes, up from 1.78 million tonnes a year earlier.

Traders attribute the rise in soymeal exports to the higher availability of beans for crushing, attractive international prices and strong demand in South-east Asia.

India is the largest soymeal exporter by volume in Asia, and the bulk of its sales is within six months from October, after the local harvest.

India is currently offering soymeal for exports at around US$225/tonne, free alongside ship.