with love to indore

Tuesday, September 9, 2008

Soyabean & Real Estate

Okie these are just two news items from ET. Each one of them is about the commodity which is driving economic development of Indore.

NEW DELHI: Realty firm Parsvnath Developers Ltd today said it would build a group housing project at Indore in Madhya Pradesh, with an expected realisation of about Rs 60 crore.

"The realisation from the project is approximately Rs 60 crore and is scheduled to be completed by the end of 2011," the company said in a statement.

The group housing project 'Parsvnath Premier' is spread over 6.3 acres and is part of a 200-acre integrated township. The company would develop 300 units covering 4.11 lakh sq ft of saleable area.

In the township, Parsvnath is also coming up with an IT/ ITeS Special Economic Zone (SEZ) spread over 76 acres. The SEZ has already been notified by the Centre.

In Madhya Pradesh, it is also developing another township at Ujjain on 100 acres of area.

Parsvnath is currently developing 114 projects across the country covering 211.32 million sq ft of saleable area.

For the year ended March 2008, it posted a consolidated revenue of Rs 1,837.12 crore and a net profit of Rs 424.39

NEW DELHI: India has contracted exports of 200,000 tonnes of soymeal to Indonesia, Singapore and Taiwan at $450 per tonne, launching new season shipments at prices 56 percent above last year's early deals, a top trade official said.

Soymeal would be exported in small containers, not bulk shipments, to enable traders to save on freight costs, Rajesh Agarwal, coordinator of the Soybean Processors' Association of India, told Reuters on Tuesday. He said export prices may rise.

Last year, India struck its first export deal at around $288 per tonne but prices gradually rose as demand grew and supplies fell due to a strike by farmers in Argentina. The country, Asia's biggest supplier of soymeal, is likely to export a record 5.5 million tonnes of soymeal in the current crop year that ends this month, buoyed by strong demand from traditional buyers in southeast Asia.

Demand for protein-rich feedstocks like soymeal has been rising rapidly due to greater consumption of poultry products globally, analysts say. In the year to September 2009, exports are likely to be over 5 million tonnes, but it was premature to forecast accurately, Agarwal said.

"It is early to arrive at a concrete figure for our soybean crop, but we are very optimistic as the area under soybean is much higher than last year," he said. Farmers planted soybean on 9.54 million hectares between June 1 and September 5, up 9.2 per cent on year, government data showed.

Trade officials say India's soybean output is likely to rise to 10.2 million tonnes in 2008 from 10 million tonnes last year. The Solvent Extractors' Association of India, a leading trade body, on Monday said exports of soymeal in August more than quadrupled to 212,310 tonnes from 46,720 tonnes.

India grows nine oilseeds in a year but only one soybean crop, which is planted in June and harvested in October. Analysts say India gained from the farmers strike in Argentina, the world's biggest exporter, and a rise in freight costs forced Thailand, South Korea and Japan to turn to the South Asian country.

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