Page 30 - Vol.37-No.1 issue

INDIA AGRICULTURE EXPORT

INDIA SEES ROBUST EXPORT DEMAND

FOR ITS SOYA MEAL

Indian soya bean meal exports have vantage in exporting more as the recent Among other countries, Taiwan and
touched around 6-7 lakh tonne until global rally in soybean prices has made Vietnam registered a 15.17 % and 14.26
December 2020 and are likely to cross Indian soya meal competitive. In Novem- % increase, respectively, in Indian oil
around 12-14 lakh tonne in the 2020-21 ber, India’s soy meal exports surged meal imports during the period. Soya
(October-September) season, senior 144% on year to 200,000 tonne due to a meal export growth was a meager 0.11
industry officials said. DN Pathak, SOPA revival in demand, led by the opening % or 11,000 tonnes in the first half of the
executive director, pointed out that there up of economies across the globe, ob- fiscal year compared to 6% growth in
had been a robust demand for Indian served SOPA. overall oil meal shipments.
soya bean meal. The United States Department of Ag-
riculture (USDA) has reduced India’s
crop estimate to 90 lakh tonne versus an
earlier estimate of 114 lakh tonne. The
lowering of India’s soya bean production
estimate by nearly 20% had added fuel
to the bullish sentiments and a bullish
year for soya bean is expected during
the greater part of 2021, industry experts
said.
Significantly, the US has turned out
to be India’s biggest soya meal buyer.
Soya meal exports to the US increased
Soybean meal export prices are at- 19.5% in the first half of the current fiscal
tractive at around $520 per tonne and Rs year to 1.31 lakh tonne against 1.10 lakh
36,300 per tonne, industry officials said. tonne during the year-ago period. Over-
Typically, the price of the Indian soya all, oil meal exports to the US recorded
meal variety is higher than the interna- the highest growth among importing na-
tional ones, but this year India has an ad- tions.
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INDIA’S WHEAT EXPORTS TO TREBLE THIS

FINANCIAL YEAR

India’s wheat exports are likely to tre- USDA has noted in its latest world grain ($165 billion) in 2019, Brazil’s share in-
ble in the current financial year, thanks trade report. Bangladesh’s total wheat creased from 2.8 percent to 5 percent
to surging international prices and ul- imports are placed at 66 lakh tonne in ($89 billion), and that of China increased
tra-low interest rate money increasingly 2020-21. from 3 percent to 4.6 percent ($82 bil-
finding its way into agri-commodity mar- lion).
kets. The US Department of Agriculture According to the Agricultural and
(USDA) on Tuesday upped its forecast Processed Food Products Export De-
of Indian wheat exports for 2020-21 (Ju- velopment Authority (APEDA), during
ly-June) to 18 lakh tonnes (mt), as against April-October 2020, India’s exports of
its earlier estimate of one lakh tonnes, the top three agri-commodities, viz. bas-
the highest ever in the last six years, the mati rice, non-basmati rice, and buffalo
Indian Express reported. meat, in terms of value (in dollars) grew
by 9 percent, 104.4 percent, and 10.5
percent, respectively, compared to the
The boost in wheat exports is welcome corresponding period of the previous
news for India, which is already a major year.
rice exporter. India ranks among the top
10 exporters of agricultural products in
the world. According to the WTO’s World
Trade Statistical Review 2020, the coun-
India’s wheat export last fiscal was at try’s share in global agricultural exports
5.95 lakh tonnes. With the Russian gov- increased from 1.1 percent in 2000 to 2.2
ernment levying a 25 euros-per-tonne percent in 2017, valued at $39 billion, but
export tax on wheat effective from Feb- fell to 2.1 percent in 2019, valued at $37
ruary 15 – in response to high domestic billion. While the US witnessed a decline
prices – Bangladesh “is beginning to in its share of global agricultural exports
shift its purchases towards India”, the from 13 percent in 2000 to 9.3 percent

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