Soyameal exports may fall 34% in Feb

Soyameal exports is likely to fall by over 34 per cent to about 2.5 lakh tonnes in February due to lower crushing and poor demand from overseas.
    
"Soyameal exports in February will be about 2.5 lakh tonnes," Soyabean Processors Association Coordinator Rajesh Agrawal said.
    
India had exported 3.81 lakh tonnes of soyameal in February 2009.
    
Agrawal attributed the fall in exports to less arrival of soyabean in the mandis and poor demand from the global markets. "Farmers are holding back their soyabean stock in anticipation of higher price".
    
However, he said the exports would increase in March and April on the back of increased demand from importing countries as Argentina crop will take time to hit the market.
    
Vietnam, Japan, Indonesia, Thailand and South Korea were the major destinations for exports.
    
During the first four months of the 2009-10 season, which runs from October to September, soyameal exports have declined by 44 per cent at 11.15 lakh tonne as against 19.77 lakh tonnes in the year-ago period.
    
Still, Agrawal hopes that the overall exports would be higher than the last year at 35 lakh tonne. In the 2008-09 season, the country had exported 32.12 lakh tonne.
    
According to second advance estimate, soyabean production is projected at 102.2 lakh tonnes in 2009-10 as against 99 lakh tonnes in the previous year.