Joint Products -
Joint products represent “two or more products separated in the course of the same processing operation usually requiring further processing, each product being in such proportion that no single product can be designated as a major product”.
In other words, two or more products of equal importance, produced, simultaneously from the same process, with each having a significant relative sale value are known as joint products. For example, in the oil industry, gasoline, fuel oil, lubricants, paraffin, coal tar, asphalt and kerosene are all produced from crude petroleum. These are known as joint products.
In other words, two or more products of equal importance, produced, simultaneously from the same process, with each having a significant relative sale value are known as joint products. For example, in the oil industry, gasoline, fuel oil, lubricants, paraffin, coal tar, asphalt and kerosene are all produced from crude petroleum. These are known as joint products.
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