Soyameal Exports in Jan Up Over Two-Fold to 5.76 Lakh Tonnes.

New Delhi,  (PTI) Soyameal export in January more than doubled to 5.76 lakh tonnes, compared with the same month last year, mainly on the back of robust demand from overseas and better availability of soyabean in the domestic market.

The country had exported 2.74 lakh tonnes in the year-ago period, according to data compiled by the Soyabean Processors Association of India (Sopa).

"The demand was good for Indian soyameal in the global market as export price was competitive. Besides, soyabean availability in the domestic market was good, which helped in undertaking crushing activities at a reasonable pace," Sopa Spokesperson and Coordinator Rajesh Agrawal told PTI.

In the first four months of the current oil year (October, September), the soyameal exports rose by 83 per cent to 20.42 lakh tonnes as against 11.15 lakh tonnes in the corresponding period of the previous oil year.

Japan imported the maximum soyameal during the first four months at 5.87 lakh tonnes, followed by Vietnam 5.18 lakh tonnes, Indonesia 1.92 lakh tonnes and China 1.14 lakh tonnes.

Agrawal noted that the country''s soyameal exports are likely to cross 35 lakh tonnes in 2010-11, against 23.5 lakh tonnes in the year-ago period.

"Exports will decline from this month, comapred to the first four months of the current oil year, but it will be still higher than the year-ago period and we will achieve exports of more than 35 lakh tonnes in 2010-11," he said. PTI MJH

Source : in.news.yahoo.com