Soyameal exports double to Rs7,000 cr in 2007-08

Soyameal exports double to Rs7,000 cr in 2007-08

New Delhi: India’s soyameal exports have more than doubled in value terms touching a record Rs7,332 crore during 2007-08 season ending September, according to the latest data of Soyabean Processors Association.

The country had exported soyameal worth Rs3,619 crore during 2006-07 season (October-September).

“There has been a quantum jump in the soyameal exports in quantity terms. And because of tightening global market, the export realization was also much higher in 2007-08 season," Sopa coordinator Rajesh Agrawal said, while attributing the reasons for significant jump in overseas sales.

The average realization of soyameal was Rs15,000 a tonne from export.

The average exports price increased to $485 a tonne in August 2008 as compared with $350 at the start of the season in October last year.

In terms of quantity, exports have surged 39% at a record 4.89 milion tonnes in 2007-08 season against 3.53 million tonnes the previous year.

Agrawal noted that the soyameal 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 3.5 lakh tonnes.

During last season, Malaysia, Japan, China, Vietnam and Thailand were the major destinations for Indian soyameal.

The shipments to Malaysia rose by more than two-folds at 122,000 tonnes in 2007-08 compared with 49,705 tonnes in the previous year. Exports to Japan rose 72% to 857,000 tonnes from 497,000 tonnes while shipments to China were up 54% to 205,000 tonnes.

Vietnam imported 1.24 million tonnes during 2007-08 against 892,000 ltonnes in 2006-07. Exports to Thailand advanced to 426,000 tonnes from 307,000 tonnes.