In the first half of the current oil marketing year that started October last year, the exports of soyameal fell by 8% and stood nearly around Rs 7,000 crore, due to lower shipments, according to data compiled by Soyameal Processors Association of India. It stood at Rs 6,987 crore during October 2013-March 2014, against Rs 7,602 crore in the year-ago period. Oil year runs from October-September.
The exports fell by 24% in volume terms to 19.65 lakh tonnes (LT) in the first six months of 2013-14 oil marketing year compared to 25.97 LT in the corresponding period of previous year. Iran was the major importer of Indian soyameal which stood around 5.87 LT. India exported 1.25 LT of soyameal to Belgium, 2.23 LT to France, 1.13 LT to Indonesia, 2.22 LT to Japan, 1.60 LT to Korea, 1.46 LT to Thailand and 1.02 LT to Vietnam.
India exported 3.4 million tonnes of soyameal, valued at Rs 10,591 crore during 2012-13 oil marketing year. India’s soyameal exports, which constitute the bulk of oil meal exports, decreased by 27.50% and stood at 2.32 LT in March 2014 from 3.20 LT a year earlier. Soyameal exports fell by 10% in October-December quarter at 11.84 LT.
The shipments however dropped sharply by nearly 50% to 7.8 LT during January-March quarter, against 15.17 LT in the year-ago period due to lower availability of soyabean, which led to lower crushing. Madhya Pradesh is the largest producing state of soyabean, which is grown in Kharif season.
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