India’s soymeal exports slumped 26 per cent to Rs 5,087.88 crore till July this season (ending September 2009) on poor overseas demand and low crushing of soybean in the domestic market.
According to the data compiled by Indore-based Soyabean Processors Association (SOPA), the outbound shipment of the animal feed declined by about Rs 1,823 crore so far this season (October 2008-July 2009) from Rs 6,910.8 crore in the in the year-ago period.
In volume terms, the exports declined by 37 per cent at 2.91 million tonnes between October 2008 and July this year, the data showed.
Trade sources said many importing countries purchased soyameal in advance keeping into account their demand when prices were relatively lower, pulling down exports in the later half of the season.
