The Hindu Business Line : Soyameal export up 80 pc; Vietnam main buyer

Soyameal exports for the April-August period this year have shown a phenomenal increase of 79.68 per cent, to 11.52 lakh tonnes (lt) from 6.41 lt during the same period last year, according to the figures released by the Soybean Processors Association of India (SOPA).

Despite this steep growth, the trade fraternity does not expect to see higher prices in soyameal exports. The price per tonne this year is expected to run parallel with that of last year, of around $200 a tonne, said Indore-based traders. This is due to a bumper crop this year, which is the result of good rainfall in the main soybean producing regions. There is also a near record high soyabean crop production in the US.

Vietnam has emerged as the largest customer of Indian soyabean meal, importing over 2.71 lakh tones followed by Indonesia with imports of 1.47 lakh tonnes and Japan with 1.06 lakh tonnes; whereas Chinese imports came in only at 79,800 tonnes for the period April to August 2006.

Total exports of soyabean meal for the year 2005-06 were recorded at 34.24 lakh tonnes, up from 18.61 lakh tonnes in the previous financial year.

The Solvent Extractors' Association Of India (SEA) however reported that soybean meal exports have registered an increase of only 28.5 per cent, amounting to 7.96 lakh tonnes, up from 6.19 lakh tonnes for April-August, 2005.

SOPA and SEA also differed in their soyabean meal export figures for August 2006. SOPA said that August exports, at 2.29 lakh mt (1.18 lakh mt) rose 93.32 per cent year-on-year.

This is in contrast to a decline in the exports as shown by the figures released by SEA exports amounting to 1.11 lakh tonnes in August 2006 against 1.12 lakh tonnes in August 2005.

Total export of all oil meals during April-August 2006 increased by 16 per cent to 13.09 lakh tonnes, from 11.33 lakh tonnes in the same period last year. The overall Indian oil meal exports for August 2006 rose by 35 per cent to 2.54 Lakh tonnes, from 1.87 lakh tonnes in August last year.

There has been a sharp increase in the overall demand for oil meals from China, which is importing 2.62 lakh tonnes this year against a mere 88,000 tonnes last year. India has mainly exported soyabean meal to the tune of 79,800 tonnes, rapeseed meal of 1.43 lakh tonnes and groundnut meal of 39,000 to China.

South Korea bought nearly 1.25 lakh tonnes of rapeseed meal during the period under consideration. Although exports of castor meal in April-August has reduced to less than half at 49,350 from 1.11 lakh tonnes last year due to a fall in South Korean imports to a meager 24,825 tonnes from 76,525 tonnes this year, there has been an overall increase in the castor seed meal exports, from 70,750 tonnes to 2.01 lakh tonnes for 2005-06.

Rice bran also saw a nearly a three-fold jump from 43,056 to 1.25 lakh tonnes, for the current financial year. Sunflower oil meal has seen a significant decline in exports from 4,790 tonnes, to a shallow 750 tonnes this year.

However with India currently importing large amounts of wheat, there is a resultant congestion at Indian ports, especially Kandla, impeding oil meal exports from India.

More Stories on : Oilseeds & Edible Oil | Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`NCDEX world's third largest agri-exchange'

December, not March, to decide wheat output

Rain in South to sustain for 4 more days

Real state of Orissa's economy

Spot rubber slips further

Tea market dearer at Coimbatore sales

Desilting, bund strengthening works

`India needs more special metals'

Soyameal export up 80 pc; Vietnam main buyer

Cashew industry plans to tap expats in UAE

Gold prices nosedive

For farmers, the real issue is access to credit

FDI hopes

Farmers' body to market honey in north India