India’s Soymeal exports jumped to 1.11 lakh tons in April, an eight-fold increase as against 12,195 tons in the corresponding period last year, as per the data compiled by the Soyabean Processors Association of India (SOPA).
Bangladesh, France and Germany were the top three buyers of Indian Soyameal during April. Bangladesh bought 29,400 tons, while France purchased 25,861. Germany bought 25,351 tons during the period. In the current oil year 2016-17 (October-September), total Soymeal exports during October 2016-April 2017 stood at 10.26 lakh tons, more than four-fold increase over the corresponding period's 1.98 lakh tons.
India had exported a mere 2.61 lakh tons in oil-year ending September 2016 as the Indian meal was outpriced in the world market on account of higher prices and lower domestic crop in 2015-16. The industry expects total Soyameal shipments to exceed two million tons in the current oil year-ending September on higher output and competitive prices.
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