Soyameal exports slip 59 per cent to 1.94 lakh tonnes in December

NEW DELHI: Soyameal exports fell by 59 per cent to 1.94 lakh tonnes in December against 4.70 lakh tonnes in the same month a year ago, according to industry data.

"The export of soyabean meal during December 2014 was 1,94,012 tonnes as compared to 4,70,799 tonnes in the same period of previous year," Soyabean Processors' Association of India ( SOPA) said in a statement.

Soyameal exports during the first nine months of this fiscal declined by 79 per cent to 4,31,368 tonnes as compared to 20,60,704 tonnes in the same period last year.

"Indian soybean meal continues to be out-priced vis-a-vis competing countries because of much higher global soybean production in 2014 and lack of sufficient incentives to off set the higher transaction cost in India," SOPA Chairman Davish Jain said.

Iran, France, Indonesia and Belgium were the major importers during April-December period of this fiscal.