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Exports of soyameal jumps to 1.83 lakh tonnes in August

06 Sep 2013 Evaluate

The exports of soyameal jumped more than 18-fold to 1.83 lakh tonnes (LT) in August, as per report compiled by Soyabean Processors Association (SOPA) due to strong demand and favourable global rates. The shipments of soyameal, used as animal feed, stood at 10,006 tonnes in the same month last year due to high domestic prices. The shipments of soyameal were at 1.07 LT in July.

However, in the current oil marketing year (October-September) period so far, soyameal exports decreased 8.86% and stood at 32.99 LT compared with 36.20 LT in the corresponding period last year.

Majority of the exports were to Iran as it imported in rupee under barter trade system. Besides, European nation and Indonesia were also major importers of Indian soyameal in August. In comparison with July, supply of soyameal has improved in August but there was hardly any disparity between the domestic and international prices.

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