Country's soyameal exports are likely to breach the 50,00,000 tonne mark this season, surging by 45 per cent on the back of strong demands from overseas markets, according to an industry official.
Soyameal exports stood at 35,26,000 tonnes in the 2006-07 season, which runs from October to September.
"We are very happy with the progress of soyameal exports in the current season. We feel that the initial target of 47,00,000 tonnes will be easily achieved. In fact, we have set a new target of 51,00,000 tonnes," Indore-based Soyabean Processors Association of India coordinator Rajesh Agarwal said.
Soyameal exports during October 2007 to June 2008 have already touched 43,22,000 tonnes, against 31,79,000 tonnes in the corresponding period of the last season.
"During July-September period, we expect exports of about 250,000 tonnes per month," he said, adding demand for Indian soyameal continues to be robust in overseas markets such as China, Japan and Indonesia.
The exports are currently being contracted at about $495 a tonne, Agarwal said.
In value terms, he said the exports would be around Rs 7,000 crore this season. Till May, the country has exported Rs 5,917 crore worth soyameal against Rs 3,619 crore in the entire 2006-07 season.
Record output of soyabean has helped achieve higher exports of soyameal.
According to the government's fourth advance estimate, soyabean production in the country stood at record 99,90,000 tonnes in the 2007-08 season against 88,50,000 tonnes in the previous one.
Agarwal said the sowing of the soyabean crop in the on-going kharif season is progressing well, barring few areas in Maharashtra. |
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