Soybean meal exports witness 735.6% rise: SOPA

The Dollar Business Bureau

There has been a 735.6 per cent increase in the export of Soybean meal and its other value added products during December 2016 with the same rising to 2,41,256 tons as compared to 28,870 tons in December 2015, according to industry body Soyabean Processors Association (SOPA).

Considering the financial year from April 2016 to December 2016, the export stood at 4,46,130 tons as compared to 3,02,304 tons in the same period of previous year showing an increase of 47.58 per cent.

As per the Solvent Extractors Association, the export of oilmeals during December 2016 witnessed a more than double rise due to huge demand of Non-GMO Soybean Meal from France and was reported at 194,309 tons compared to 84,218 tons. The overall export of oilmeals during April to December 2016 was reported at 856,798 tons compared to 987,842 tons during the same period of last year signifying a decrease of 13 per cent.

The region which exported the most was Kandla with 578,429 tons (68%), followed by Kolkata which did a business of 126,643 tons (15%). The third and fourth spots were grabbed by Mumbai including JNPT which handled 75,490 tons (9%), and Mundra which handled 74,636 tons (8%).

In terms of oilmeal import by different countries from India between April to December 2016, South Korea reported 452,099 tons compared to 616,691 tons in the same period last year. The order consisted of 147,167 tons of rapeseed meal and 304,932 tons of castor meal.

Vietnam imported 120,294 tons compared to 214,028 tons last year and was constituted by 6,424 tons of rapeseed meal, 1,521 tons of soybean meal and 112,349 tons of Deoiled Rice Bran Extraction.