Moment of the week- Soyameal exports rise to 1.11 lakh tonnes in April

moment

India’s soyameal exports rose to 1.11 lakh tonnes in April on continued strong demand from countries such as Bangladesh and France.

Shipments of soyameal and other value-added products during April registered an eight-fold increase of 1.11 lakh tonnes against 12,195 tonnes in the corresponding period last year, according to provisional estimates released by the Soyabean Processors Association of India.

Bangladesh, France and Germany were the top three buyers of Indian soyameal during April. Bangladesh bought 29,400 tonnes, while France purchased 25,861 tonnes during April. Germany bought 25,351 tonnes during the period.

In the current oil year 2016-17 (October-September), total soymeal exports during October 2016-April 2017 stood at 10.26 lakh tonnes, more than four-fold increase over the corresponding period’s 1.98 lakh tonnes.

India had exported a mere 2.61 lakh tones in oil-year ending September 2016 as the Indian meal was out priced in the world market on account of higher prices and lower domestic crop in 2015-16. The industry expects total soyameal shipments to exceed two million tonnes in the current oil year-ending September on higher output and competitive prices.

Source: Business Line

 

 

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