Soyameal exports likely to dip by 30% in March

Soyameal exports likely to dip by 30% in March
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First Published: Tue, Mar 20 2007. 12 25 AM IST
Updated: Tue, Mar 20 2007. 12 25 AM IST
New Delhi: India’s soyameal exports are likely to decline by 30% in March at about five lakh tonnes as against 7.1 lakh tonnes in the year-ago period, due to increase in demand from the domestic poultry industry.
“Soyameal export in March is likely to be around 4.5-5 lakh tonnes taking the total export in October 2006 to March 2007 to about 27 lakh tonnes,” Soyabean Processors’ Association spokesperson Rajesh Agarwal said from Indore.
Agarwal also pegged the soyameal exports this year in April at 2.5-3 lakh tonnes and from May-September to a minimum of one lakh tonnes each month. He added that soyameal export during the period ending September this year is likely to decline at about 35 lakh tonnes compared with 41.83 lakh tonnes in the previous year.
“Last year, the country exported more soyameal following less domestic consumption due to bird flu,” Agarwal said, adding the availability of soyabean seeds for crushing was also better last year due to carry-over stock of about seven lakh tonnes from the previous year.
Coupled with the increase in domestic consumption, the decline in the supply of seeds from April ownwards would also contribute to the expected dip in the soyameal exports in coming months.
Soyameal is the major feed after maize, which is consumed by the poultry industry. “The marketing of about 60 lakh tonnes of seeds has been completed”, he said.
Meanwhile, the Central Organization for Oil Industry and Trade has revised the soyabean production upwards last week at 76.6 lakh tonnes from 72.6 lakh tonnes. However, the traders said it could reach up to 80 lakh tonnes.
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First Published: Tue, Mar 20 2007. 12 25 AM IST
More Topics: Money Matters | Commodities |