The export of soymeal jumped 53 per cent in the first nine months of the current financial year on huge demand from overseas.
Total exports jumped to 3.086 million tonnes (MT) during the period April-December 2008 as compared to 2.02 MT in the comparable period last year. Shipment of soymeal during December alone jumped to 6.65 tonnes from 5.52 tonnes in the same period last year, according to data collated by the Indore-based Soybean Processors’ Association (SOPA).
SOPA co-ordinator and spokesperson Rajesh Agarwal attributed this export rise to the recent government policies which offered incentives to exporters.
“Indian meals are sold at competitive price overseas. Additionally, our voice time is half of that from the North America. We have quality edge over any other products available in the destination markets. Therefore, our products are preferred over any other substitutes in global markets,” said Agarwal.
FULL OF BEANS
Country-wise exports during April-December
2007 2007 % growth
Taiwan 2,142 64,541 2,913.12
Singapore12,359 1,44,219 1,066.91
Italy 4,200 17,500 316.67
Yemen 6,250 23,030 268.48
Tuvalu 3,900 13,000 233.33
Kenya 232 740 218.97
Malaysia 33,816 63,921 89.03
Philippines 23,762 38,717 62.94
(in tonnes)
From India, the shipment is possible within 15-20 days in any corner of the world as against 40-45 days from North America, Agarwal added.
Thailand, Singapore, Vietnam, Japan, Korea, Indonesia and China were the major destinations for Indian soybean meal exports during the year 2008-09.
India’s export to Thailand increased 261.31 per cent while shipment to Singapore surged 116.44 per cent, Vietnam 102.65 per cent, Japan 99.56 per cent, Korea 92.56 per cent, Indonesia 86.51 per cent and to China 63.01 per cent.
The export of soymeal during first quarter of current oil year (Oct-Dec) was 14.22 tonnes as against 12.53 tonnes, registering a growth of 13.44 per cent over the same period last year.
Source : Business Standard