Country's soyameal exports are expected to slow sown in the next quarter. The bumper crop from US will put tremendous pressure on the prices of soyabean and its derivatives world over, as industry sources feel. Global soyabean production in ‘00-01 is forecasted to touch an unprecedented 165m tonnes, atleast 10 m tonnes more than the 155m tonnes of ‘99-00 In addition the new marketing season beginning October ’00 will have an opening stock of 20 m tonnes of soyabean. International developments are sure to have their repercussion on the Indian soya sector. In ‘99-00, India exported about 2.5m tonnes of soyameal. It is reported by industry sources that Indian soyameal exports may remain stable as far as the quantity is concerned but may witness a drop in its unit value realization. Currently in the overseas markets of Indian Soyameal is quoted at $220 per tonne FOB. Exporters opine that liberal policy for edible oils imports is unlikely to be tampered atleast until October ’00, because of demand for cooking medium during the ensuring festival season. This would limit the margins on oil sales by soybean processors. In June shipments are estimated to be lower, and the trend is likely to continue till October until the prospects of a new crop will be known, as reported. |
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