India's oilmeal exports likely to remain stable in 2013-2014 agricultural year despite higher oilseeds production in 2013, industry trade group says

INDIA , December 20, 2013 () – India s oilmeal exports are likely to remain stable in year 2013 14 despite higher oilseeds production this year During April November 2013 oilmeal exports stood at 2.58 million tons around 8 % higher compared to 2.39 million tons during corresponding period of last year data from Solvent Extractors Association of India showed. In 2012 13 oilmeal exports stood at 4.84 million tons the data showed.Oilmeal exports are likely to be around 2 million tons in the next four months. Last year in the corresponding period of December to March oilmeal exports were 2.45 million tonnes.

As per trade estimate of Central Organisation for Oil Industry Trade (COOIT) in October kharif output of nine major oilseeds rose by 17.2% to 16.9 million tons as compared to 15.2 million tons in the previous year. This was mainly because of increase in crop size of Groundnuts by almost 2.0 million tons over the previous year. Despite higher production oilmeal exports are likely to be in the range of 4.8 5 million tons as soybean production has been impacted due to late rains in growing regions said Raju Choksi Vice President (Agro commodities) Anil Nutrients Ltd a subsidiary of the Rs 650 crore plus agro and food processing major Anil Ltd.

During the period under consideration soymeal exports rose 12.3% to 1.56 million tons against 1.39 million tons in the same period last year data from Solvent Extractors Association showed.

Almost 65% of total oilmeal exports come from soymeal. Since soybean production is expected to be revised downwards the soymeal exports won t be a major factor contributing to growth of exports in the remaining months Mr. Choksi said. He also informed that Indian exports have now lost advantage of exports due to high pricing as well as increased global supply from countries like Brazil and Argentina.

The sowing of oilseeds in Rabi has been done in around 7.78 million hectares as on Dec 12 2013 as compared to 7.58 million hectares in the same period last year the data from Agriculture Ministry showed. Published by HT Syndication with permission from Commodity Online. For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com

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