Soymeal Exports Up This Year - Oct 14, 2008

The country's soymeal exports have increased manifolds in value terms touching a record Rs 7,332 crore during 2007-08 season ending September.The country had exported soymeal worth Rs 3,619 crore during 2006-07 season (October-September).The average realisation of soymeal was Rs 15,000 a tonne from export.The average exports price increased to $485 a tonne in August 2008 as compared with $350 a tonne at the start of the season in October last year.In terms of quantity, exports have surged by 39 per cent at record 4.88 million tonnes in 2007-08 season against 3.53 million tonnes in the previous year.

Agrawal noted that the soymeal exports achieved a record in both quantity and value terms.The data does not include exports made to Pakistan, Nepal and Bangladesh through rail and road, which is expected to be about 350,000 tonnes.During the last season, Malaysia, Japan, China, Vietnam and Thailand were the major destinations for Indian soymeal.The shipments to Malaysia rose by more than two-folds at 1.22 lakh tonnes in 2007-08 compared with 49,705 tonnes in the previous year. The exports to Japan increased by 72 per cent to 8.57 lakh tonnes from 4.97 lakh tonnes while that to China by 54 per cent at 2.05 lakh tonnes.Vietnam imported 1.24 million tonnes during 2007-08 against 8.92 lakh tonnes in 2006-07. Exports to Thailand advanced to 4.26 lakh tonnes from 3.07 lakh tonnes.