October Indian soy meal exports dip 30%
Soy meal exports declined by over 30% to 170,000 tonnes last month compared with 244,000 tonnes in the year-ago period, the Indore-based Soybean Processing Association of India (SOPA) said in a release.
The exporters attributed the dip to delay in commencement of soybean
processing in major areas of Madhya Pradesh and Maharashtra. The soybean year
runs from October to September.
“The processing plants started their
operations late, around second half of October, resulting in lower exports,” a
SOPA spokesman said.
Soy meal exports are, however, expected to rise
during November at about 450,000 tonnes.
During October 2007, Vietnam
imported 54,900 tonnes of soy meal from India, followed by Japan 44,200 tonnes,
China 34,381 tonnes, Iran 12,645 tonnes and Indonesia 12,635
tonnes.
India exported 352,600 tonnes soy meal last year and is expecting
overseas sales of about 4.5 million tonnes in the 2007-08 season due to bumper
output of soybean. The export to China alone is estimated at about 400,000
tonnes.
The soy meal output is expected at about 6.7-6.8 million tonnes
in the current season, of which 2.0-2.2 million tonnes would be consumed by the
domestic poultry industry, while the remainder would be exported.
Related
website: SOPA
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