India's soyameal export has slumped by 40 per cent to Rs 2,925.98 crore during October 2009-April 2010 compared to the corresponding period a year ago on lesser crushing and low arrivals in the market.
"This time soybean crushing is poor because operating margins are under pressure. As a result, the arrivals are also less causing a drop in exports," Indore-based Soybean Processors Association of India's (SOPA) Co-ordinator Rajesh Agarwal said.
The country's soyameal shipments stood at Rs 4,824.56 crore during October 2008-April 2009. Agarwal said high price of Indian soyameal also contributed to the decline in export.
"This time the South American crop has been very good. Our prices are not as competitive as their soyameal because our bean is expensive," he said.
In terms of volume too, soyameal exports fell by 41.39 per cent to 1.56 million tonnes for the first seven months of the 2009-10 oil year (October-September) from 2.66 million tonnes in the corresponding period a year ago.
India's soyameal export in 2009-10 oil year is expected to decline by 22 per cent at 2.5 million tonnes against 3.2 million tonnes in 2008-09, Agarwal said.
