Oilmeal exports down 74% in February

Total oilmeal exports during the period April 2015 – February 2016 fell by 52% to 1,092,905 tonnes from 3,969,903 tonnes during the same period of 2013-14 The Dollar Business Bureau

Currently, Indian soybean meal is quoted at $480 per tonne against that of Argentina at $321 per tonne, and out-priced by about $160 per tonne in international market

India’s oilmeal exports slumped by 74% in February due to a large decline in soyabean crushing and domestic unavailability of oil and meals. In February, India’s oilmeal exports stood at just 53,866 tonnes as against 208,499 tonnes in February 2015. Total oilmeal exports during the period April 2015 – February 2016 fell by 52% to 1,092,905 tonnes from 3,969,903 tonnes during the same period of 2013-14. “Soybean crushing is very much reduced due to continuous disparity and high price of domestic market affecting overall domestic availability of both oils and meals. The capacity utilisation is at the lowest. Industry is passing through very tough and rough time and many plants are closing down or operating at very low capacity due to disparity in crushing and export,” the Solvent Extractors’ Association (SEA) said in a statement. Soyabean meal exports are also at a historic low during the ongoing financial year. Its total outbound shipments was just 70,390 tonnes during April-February 2015-16 as against 613,676 tonnes during the corresponding period of 2014-15 and 2,558,781 tonnes during the same duration of 2013-14. Rapeseed meal export is also contracted to one-third of that of 2014-15. Currently, Indian soybean meal is quoted at $480 per tonne against that of Argentina at $321 per tonne, and out-priced by about $160 per tonne in international market. South Korea continues to be the leading importer of Indian oilmeal, followed by Vietnam, Thailand, Taiwan and Oman. During April 2015 – February 2016, the total exports of oilmeal to South Korea was 664,556 tonnes consisting 273,530 tonnes of rapeseed meal, 390,121 tonnes of castor meal and 905 tonnes of soybean meal. During the period, Vietnam imported 249,319 tonnes; which consisted of 2,587 tonnes of rapeseed meal, 480 tonnes of soybean meal and 245,756 tonnes of deoiled rice bran extraction, while Thailand imported 27,631 tonnes; consisting of 11,646 tonnes of rapeseed meal, 10,581 tonnes of soybean meal and 5,404 tonnes of deoiled rice bran extractions. Taiwan during the same period imported 36,709 tonnes; which consisted of 18,469 tonnes of rapeseed meal, 17,003 tonnes of castor meal, 400 tonnes of groundnut meal and 837 tonnes of soybean meal.

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The Dollar Business Bureau - Mar 07, 2016 12:27 IST

Oilmeal exports down 74% in February

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