Profit from Knowledge

Profit from Knowledge

Wednesday, March 6, 2013

Exporting Soyameal to Iran

Business Opportunity NOW
 Here is a good business opportunity Iran’s worldwide imports of soyameal are close to 2.2 million tonnes annually.

This year, Iran will procure higher supplies of Indian soyameal — estimated at 0.8 million tonnes by March 2013 and 0.75 million tonnes during the leaner season of April-September 2013.
The Indo-Iran bilateral rupee paymen...t arrangement, which now provides for 100 per cent rupee trade, will ensure substantial diversion of trade to India with an added pull for soyameal.
Iran has to cover its demand of meal for its livestock and has few sourcing options other than India

The soyabean industry, which has flourished in Madhya Pradesh, has been insulated from any direct or indirect policy intervention
by the Centre, unlike wheat, rice, maize, pulses, edible oil.
Authorisation of “debit advice” to UCO Bank for effecting payment is received from Iranian counterparts within 7-10 days, subject to the documentation being compliant with terms of letter of credit.

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