India’s soymeal exports up by 10% during Q1.

INDORE: Exports of soybean meal during June, 2012 was 1,80,987 tonnes as compared to 1,17,596 tonnes in June, 2011 showing a jump of 53.90% over the last year. On a financial year basis, the export during first quarter of current financial yeari.e. April 2012 to June 2012 is 6,55,868 MT as compared to 5,97,971 MT in the same period of previous year showing an increase of 9.68%.

However, exports of soybean meal came down during the current oil year, which begins in October and closes in September. October 2011 to June 2012 is 34,41,699 MT as against 35,95,818 MT last year, decrease by 4.28%.

"It was basically due to the fact that there has been less crushing", said Rajesh Agrawal, spokesperson & coordinator, the Soybean Processors Association of India. Even though there continues to be the demand contraction in export due to the increase in price of the soybean meal as the per metric tonne rates have gone up to Rs 36,000 from Rs 20,000 demand was not much.

The data has been collected and compiled by SOPA based on the information received from the members, port authorities and other agencies. The data does not include exports to Pakistan, Nepal and Bangladesh by rail or road, said Agrawal.

Source : timesofindia.indiatimes.com