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India poised to boost soybean exports

India is poised to increase its soymeal exports to European countries five-fold in the next couple of years, the Soybean Processors Association of India has said.

"Our target is to raise the exports from 100,000 tonnes last year to 500,000 tonnes in the next couple of years and this is quite achievable," Davish Jain, head of a visiting six-member high-level SOPA delegation, said in London.

The team, which arrived in London on Sunday after touring Italy, Spain, France, Germany and the Netherlands, gave a detailed presentation of how "India has emerged as a quality supplier of protein-rich and eco-friendly soymeal in the global market."

India earned Rs 20 billion exporting 2.3 million tones of soybean in 2000-2001, he said.

South Korea was the largest importer of Indian soymeal - 518,000 tonnes - followed by Indonesia - 431,000 tonnes, while Japan's imports stood at 332,000 tonnes.

"Having successfully carved a niche for its soy products in South East Asian countries, India is ready and keen to explore the European markets now," Jain said.

He said the delegates had a very fruitful meeting with soymeal importers in London, who have evinced keen interest in imports from India. It also enabled the delegation to understand the market and demand pattern as well as the nature and perspective of importers, he said.

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