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Soyameal exports dip by 12% in FY2012-13

09 Apr 2013 Evaluate

Soyameal export dropped 12% in 2012-13 fiscal to 34.33 lakh tonnes against 39.14 lakh tonnes in the same period last year, according to the Soybean Processors Association of India (SOPA). The fall was due to sluggish supply of soybean and a corresponding lower crushing. However, shipments to Iran grew exceptionally. The maximum exports of soyameal were to Iran at 8, 38,454 tonnes, followed by Japan at 6, 00,021 tonnes and France 2, 81,255 tonnes during 2012-13 fiscal.

Meanwhile, Soyameal is largely used as animal feed. It is made out of soyabean. Soyabean production in the country is estimated to be higher at 12.95 million tonnes in 2012-13 crop year (July-June), as per the Agriculture Ministry forecast.

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