Soyameal exports saw a 41 per cent decline to 3.64 lakh tonnes during January on lower crushing due to poor market arrivals of beans. In January last year, the soyameal exports stood at 6.2 lakh tonnes.
On a financial year basis, soyameal exports during April-January stood at 24.25 lakh tonnes, down 4.37 per cent over the corresponding period last year, according to data complied by the Soyabean Processors Association of India.
During April-January last fiscal, the exports stood at 25.36 lakh tonnes.
Iran remained the largest buyer of the pricier Indian soyameal during January at 99,000 tonnes, followed by Korea at 68,850 tonnes and Europe at 44,500 tonnes. Other large buyers during the period were Saudi Arabia at 17,675 tonnes and Croatia at 9,066 tonnes.
During the current oil year starting October, the total soyameal exports till January stood at 15.49 lakh tonnes against 16.99 lakh tonnes, a decline of 8.83 per cent.
Indian exporters are facing a drop in enquires ahead of the impending large soyabean harvest in South America as buyers have taken a wait-and-watch stance. Large producers Brazil and Argentina are projected to harvest 90 million tonnes and 50 mt, respectively.