Vietnam, Japan, Indonesia and Thailand remained top export destinations for Indian soymeal last fiscal.
India’s soyameal exports grew 6.5 per cent to nearly 4.2 million tonnes in the last financial year, an industry body said today.
“The export of soymeal during 2008-09 was 4.2 million tonnes compared with 3.9 million tonnes in the previous fiscal, registering a 6.47 growth rate,” Indore-based Soybean Processors Association of India (SOPA) said in a statement today.
Exports slumped 63 per cent to 2,22,876 tonnes in March against 6,05,852 tonnes in the same month last year, SOPA said.
In the first half of the season starting October 2008, exports declined to 25,81,201 tonnes from 32,23,919 tonnes during the same period last year, a fall of 20 per cent, the statement added.
“The fall in exports of soymeal is due to non-arrival of soybean in the market,” SOPA Co-ordinator Rajesh Agrawal said.
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An industry analyst said the exports towards the second half of the financial year dipped as the financial crisis dented demand and soybean farmers held back stocks, expecting better prices for their produces in future.
Vietnam, Japan, Indonesia and Thailand remained top export destinations for Indian soymeal last year.
However, export realisation has declined this season against the last season. In 2007-08, India exported soymeal in the price range of $349-492 a tonne whereas the returns have come down to the range of $276-398 in the first six months of this season.