NEW DELHI: India may export 4.5 million tonnes of soyameal in the 2009-10 season, starting October, on revival of demand abroad, even as outbound shipment of the item is estimated to dip to 3.7 million tonnes this season.
“Soyameal export may touch 4-4.5 million tonnes in the next season, as demand for the commodity in the global market is likely to revive,'' Indore-based Soybean Processors Association (SOPA) Co-ordinator Rajesh Agrawal said.
Another industry official said the rise in demand due to a possible recovery of global economy may boost prices of soyameal, used mainly as an animal feed, and that of its basic raw material -- soyabean. Farmers would then be interested to offload the c ommodity more regularly instead of holding it back for future in anticipation of higher prices for their produce, he added.
Earlier, industry officials had also blamed farmers for holding back stocks for most part of the year in expectation of higher prices for soyabean in future, resulting in irregular supply and low crushing, and subsequent low export.
Soyameal export is expected to nosedive to 3.7 million tonnes in 2008-09 from 4.88 million tonnes a year earlier. The export prices of soyameal this season, too, have witnessed fluctuations. After rising to a seasonal peak of $460.13 a tonne in June, ra tes fell to $428.04 in August.
Source : Business Line