News last update:6 Aug 2012

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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