June 8, 2009

Indian soymeal exports in May fell 71 percent to 89,156 tonnes due to poor demand and lesser soy arrivals, the Soybean Processors Association of India (SOPA), said on Friday (June 5).

SOPA data show that exports of soymeal between October to May was 2.75 million tonnes compared to 4.08 million tonnes during the same period last year, a decline of about 32.5 percent.

According to SOPA, India's soymeal exports fell sharply by more than 63 percent to 2, 22,876 tons in March, 2009 due to lower soy availability, while total exports in the same period last year was 605,852 tonnes.

SOPA pointed out that low arrivals of soy crop in the markets, lower crushing and poor demand from importing countries are the main reasons for decline in exports.

Soymeal exports stood at 4.88 million tonnes October-September soy season in 2007-08.

According to government data, soy output is estimated to fall at 9.05 million tonnes in 2008-09 against 10.97 million tonnes in the previous year.