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Indian Soymeal Exports Down 17 Per Cent last year

Indian Soymeal Exports Down 17 Per Cent last year

16 April 2014

INDIA - India’s soymeal exports has recorded a negative growth of 0.59 million tonnes or 17.27 per cent at 2.84 million tonnes during the April 2013 to March 2014 financial year, writes Jagdish Kumar.

During the same period last year, soymeal exports were recorded at 3.43 million tonnes, Soybean Processors Association of India (SOPA), an industry body representing soybean processors, farmers, exporters and brokers said in a statement on April 9.

The body attributed the downward growth to poor availability of soybean & corresponding lower crushing during first quarter April-June 2013 which was at 0.41 million tonnes, against 065 million tonnes and last quarter January-March 2014, which was at 0.78 million tonnes, against 1.51 million tonnes a year ago.

In value terms exports during the fiscal year was down by 2.12 per cent to $1.65 billion, as compared to $1.69 billion a year ago, SOPA statement said.

However, SOPA did acknowledge that export to Iran during the period registered exceptional growth, but did not reveal the figures.

The body said, during the second half of 2013-2014 fiscal year, exports recorded the highest negative drop to 1.96 million tonnes, against 2.59 million tonnes recorded in the same period last year.

In terms of value the total earning was down by $1.15 billion, against $1.26 billion earned in the last second half.

During March 2014, exports decreased by 27.50 per cent to 0.23 million tonnes, as compared to 0.32 million tonnes in March 2013.

SOPA said that data does not include exports to Pakistan, Nepal and Bangladesh by rail or road.

TheCropSite News Desk

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