Soyameal exports drop in volume but up 36% in rupee terms

The groundnut crop in Gujarat this year is estimated at a record high of 25.95 lakh tonnes on higher yields and acreage, according to a recent field survey by the Solvent Extractors Association of India.

Last year, Gujarat produced 6.95 lakh tonnes as drought in Saurashtra impacted the yields.

For the kharif 2013-14 season, Gujarat had reported groundnut acreage of 16.6 lakh hectares, 36 per cent more than last year’s 12.24 lakh ha.

The average yield this year is pegged at 1,560 kg for a hectare more than twice than last year’s 760 kg, the SEA survey said.

Further SEA said the groundnut crop sown in early June has nearly matured and required a dry spell for harvest.

However, if the rain continues, there could be some damage to the standing crop and the crop size could be reduced by 5-7 per cent, it said.

The Agriculture Ministry in its first advanced estimates has pegged the country’s groundnut crop at 55.69 lakh tonnes against 31 lakh tonnes produced last year.

The timely arrival and six per cent excess monsoon rains across the country have boosted the prospects of a record foodgrain harvest this year.

Meanwhile, soyameal exports grew 36 per cent in rupee value terms for the oil-year ended September 2013, but saw a four per cent decline for the period over corresponding last year. According to Soyabean Processors Association (SOPA), the value of soyabean exports for 2012-13 were estimated at over Rs 10,558 crore against previous year’s Rs 7,745 crore.

In quantity, the soyameal shipments declined by four per cent to 34.73 lakh tonnes during the oil year 2012-13 October-September on lower availability of the oilseeds for crushing.

Shipment during 2011-12 stood at 36.23 lakh tonnes, SOPA said in a statement.

Iran, Japan, France, Thailand, Vietnam, Indonesia and Korea were the major destinations for Indian soyameal exports in 2012-13.

The shipments of soyameal, which is used as animal feed has increased sharply during September this year to 1.73 lakh tonnes from 2,864 tonnes in the same month last year.

The export during April to September in the current fiscal increased by 4.68 per cent to 8.76 lakh tonnes compared to 8.37 lakh tonnes in the same period last year.

vishwanath.kulkarni@thehindu.co.in

(This article was published on October 7, 2013)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.