Oilmeals export earning jumps 65% to Rs 7,109 cr in FY'08
Thanks to better realisation, India's earning from oilmeals export jumped 65 per cent to Rs 7,109 crore during 2007-08 from Rs 4,300 crore last year.
By PTI |
MUMBAI: Thanks to better realisation, India's earning from oilmeals export jumped 65 per cent to Rs 7,109 crore during 2007-08 from Rs 4,300 crore last year, an industry body said on Tuesday.
The overall export of oilmeals for the fiscal was the highest at 5,442,132 tons as compared to 5,170,700 tons last year, Solvent Extractors' Association of India (SEA) Executive Director B V Mehta said.
A better freight on board (FoB) realisation has also given a good support to the domestic processing industry, he said.
The export of oilmeals during March 2008 was reported at 8,53,675 tons, up 13 per cent as compared with 7,55,450 tons a year ago, due to increase in export of soybean meal, rapeseed meal, castor meal and groundnut meal.
In the first half of the year, exports declined due to a lower soyabean production during 2006-07. However, a record crop of 9.4 million tons in 2007-08, coupled with highest price realisations in international markets, pushed up the export of oilmeals in FY'08, Mehta said.
In April 2007, FoB realisation for soybean meal was USD 269 per tonne, which went up to USD 407 per tonne in March 2008.
Similarly, rapeseed meal realisation nearly doubled and reached USD 233 per tonne from USD 129, while that of groundnut meal increased to USD 320 from USD 220 and castor meal to USD 141 from USD 70 in a year.
The overall export of oilmeals for the fiscal was the highest at 5,442,132 tons as compared to 5,170,700 tons last year, Solvent Extractors' Association of India (SEA) Executive Director B V Mehta said.
A better freight on board (FoB) realisation has also given a good support to the domestic processing industry, he said.
The export of oilmeals during March 2008 was reported at 8,53,675 tons, up 13 per cent as compared with 7,55,450 tons a year ago, due to increase in export of soybean meal, rapeseed meal, castor meal and groundnut meal.
In the first half of the year, exports declined due to a lower soyabean production during 2006-07. However, a record crop of 9.4 million tons in 2007-08, coupled with highest price realisations in international markets, pushed up the export of oilmeals in FY'08, Mehta said.
In April 2007, FoB realisation for soybean meal was USD 269 per tonne, which went up to USD 407 per tonne in March 2008.
ADVERTISEMENT
Similarly, rapeseed meal realisation nearly doubled and reached USD 233 per tonne from USD 129, while that of groundnut meal increased to USD 320 from USD 220 and castor meal to USD 141 from USD 70 in a year.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
