Soymeal exports up 53% in 9 months

The export of soymeal jumped 53 per cent in the first nine months of the current financial year on huge demand from overseas.

Total exports jumped to 3.086 million tonnes (MT) during the period April-December 2008 as compared to 2.02 MT in the comparable period last year. Shipment of soymeal during December alone jumped to 6.65 tonnes from 5.52 tonnes in the same period last year, according to data collated by the Indore-based Soybean Processors’ Association (SOPA).

SOPA co-ordinator and spokesperson Rajesh Agarwal attributed this export rise to the recent government policies which offered incentives to exporters.

“Indian meals are sold at competitive price overseas. Additionally, our voice time is half of that from the North America. We have quality edge over any other products available in the destination markets. Therefore, our products are preferred over any other substitutes in global markets,” said Agarwal.
 

FULL OF BEANS Country-wise exports during April-December
	2007	2007	% growth
Taiwan	2,142	64,541	2,913.12
Singapore	12,359	1,44,219	1,066.91
Italy	4,200	17,500	316.67
Yemen	6,250	23,030	268.48
Tuvalu	3,900	13,000	233.33
Kenya	232	740	218.97
Malaysia	33,816	63,921	89.03
Philippines	23,762	38,717	62.94
(in tonnes)

 

From India, the shipment is possible within 15-20 days in any corner of the world as against 40-45 days from North America, Agarwal added.

Thailand, Singapore, Vietnam, Japan, Korea, Indonesia and China were the major destinations for Indian soybean meal exports during the year 2008-09.

India’s export to Thailand increased 261.31 per cent while shipment to Singapore surged 116.44 per cent, Vietnam 102.65 per cent, Japan 99.56 per cent, Korea 92.56 per cent, Indonesia 86.51 per cent and to China 63.01 per cent.

The export of soymeal during first quarter of current oil year (Oct-Dec) was 14.22 tonnes as against 12.53 tonnes, registering a growth of 13.44 per cent over the same period last year.