Export of soybean meal drops 72% in August
Export of soybean meal from India declined to 769 tonnes in August, 2015 as compared to 2,778 tonnes in the same month last year, recording a decrease of 72.33%, according to a data released by the Soybean Processors Association of India (SOPA). “On a financial year basis, the export during April'2015 to August'2015 is 35,858 tonnes as compared to 96,201 tonnes in the same period of previous year showing a decrease of 62.73%,” said SOPA in a statement. The country’s total export between April and August, 2015 stood at 35,858 tonnes as against 96,201 tonnes shipped during the corresponding period last year. Since April this year, India has exported approximately 36,000 MT of soybean meal, with Middle-East countries importing more than 24,000 MT, followed by Southeast Asian countries with their import of over 10,000 MT. In terms of export value, the oil year 2012-13 remained the most profitable for the industry when it exported soybean meal worth Rs.105 billion. The country’s outbound shipment dipped significantly in the next two years, with figure dropping to Rs.73.7 billion in 2013-14 and 16.9 billion in 2014-15, according to SOPA. The SOPA has compiled the report based on the data collected from its members, port authorities and several other agencies. The data does not include soybean exports through road or rail to Pakistan, Nepal and Bangladesh.
September 05, 2015 | 5:04pm IST.
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