India's soymeal exports to reach 2 million tonnes in 2016-17
The Dollar Business Bureau India's soymeal exports are set to reach almost 2 million tonnes in the year in the oil year 2016-17, the most in two years, as higher domestic output is expected to boost supplies and reduce prices. Last year India's soybean production grew to 11.5 million tonnes from seven million tonnes a year ago. This year the soymeal production registered the biggest annual rise in over a decade. The domestic output in 2015 was affected by drought situation due to the El Nino weather pattern. "Soymeal exports are doing very well, especially to Europe and Japan," said Atul Chaturvedi, president of the Solvent Extractors Association of India (SEAI). "We will see strong growth this year," said the country's prime vegetable oil trade ...
Indias oilmeal exports decline almost 10% in Nov
The Dollar Business Bureau India’s oilmeal exports declined 9.75% to 108,342 tonnes last month on sluggish global demand, Oil industry body Solvent Extractors' Association (SEA) said. The country’s oilmeal exports in November last year stood at 120,059 tonnes, according to the SEA data. During April-November of the current fiscal, exports of oilmeal fell 27% to 662,489 tonnes from 903,624 tonnes during the same period of last year. The decline in exports was largely due to "lesser availability of oilseeds for crushing and continuous disparity in exporting soyabean meal in international market," SEA said. Last month, the outbound shipments of rapeseed meal decreased to 12,304 tonnes from 12,845 tonnes in November last year, while extraction of rice bran too reduced to 2,371 tonnes from 12,528 tonnes ...
Indias oilmeal exports jumps two-fold in July
The Dollar Business Bureau India’s oilmeal exports jumped two-fold to 87,944 tonnes in July in the wake of higher outbound shipment of castorseed meal to South Korea, said the industry body, Solvent Extractors Association of India (SEA) on Friday. On the other hand, exports of oilmeal during the April-July period of the current fiscal dropped 47 percent to 2,74,237 tonnes against the 5,17,914 tonnes in the same period a year earlier. In July 2015, India had exported 44,238 tonnes of oilmeal, which was utilised as animal feed. The Mumbai-based industry body, SEA, attributed a drop in the exports of oilmeal during the April-July quarter to lesser availability of oilseeds for crushing and also due to the constant disparity in shipping oilmeal to the foreign markets. According ...
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 Indias oilmeal exports slumped by 74% in February due to a large decline in soyabean crushing and domestic unavailability of oil and meals. In February, Indias 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 ...
Vegetable oil imports up 24.77% in December
The Dollar Business Bureau India’s vegetable oil imports grew by 24.77% to 1.41 million tonnes in December 2015 as compared to 1.13 million tonnes in December 2014, according to the latest report by the Solvent Extractors’ Association. The country imported 1.40 million tonnes of edible oil and 11.47 thousand tonnes of non-edible oil during the month. Overall import of vegetable oil during first two months of oil year 2015-16, i.e. November and December 2015, increased by 18% to 2.76 million tonnes from 2.33 million tonnes during the corresponding period of previous oil year. “It is a well-known fact that globally the prices of edible oil are historically low since 2008, and has affected the domestic players,” the Solvent Extractors’ Association (SEA) ...
Vegetable oil imports grow by 23.64% in 2014-15
The Dollar Business Bureau India’s dependence on vegetable oil imports has gone up by more than 70% during the current fiscal Vegetable oil imports in the oil year 2014-15 surged by 23.64% as shipments of palm products as well as soft oils like soybean, sunflower and rapeseed (canola) grew by a record margin. During the previous oil year (November 2014 to October 2015), imports of edible oil and non-edible oil increased to 146.1 lakh tonnes from 118.2 lakh tonnes in the oil year 2013-14. Last month, vegetable oil imports reached 16.7 lakh tonnes - the highest in a single month since allowed in OGL (Oil and Gas Lease) in 1994, up 34% from about 12.47 tonnes in October 2014. Similarly, ...
Indias oilmeal exports nosedive by record 94% in Oct
Deepak Kumar | The Dollar Business Oilmeal exports in October sank to a record 94% due to a sharp decline in soyabean crushing shipments and less import by the key Asian markets. Exports last month came down to just 13.7 thousand tonnes from 238 thousand tonnes in October 2014. Overall oilmeal exports during April-October 2015 also declined by 40% to 763 thousand tonnes from 1.26 million tonnes recorded during the corresponding period of last year. Expressing concern over the slowdown in global trade, industry leaders have urged the government to reform its exports policy and come out with incentives plans to support Indian oil manufactures. “The government needs to restructure the export policy. The current trend is not supporting Indian oil manufacturers. ...
Oil seeds production to decline by 10% in 2015-16
Deepak Kumar | The Dollar Business Even as the Indian edible oil processing industry is largely dependent on imports, the country’s oil seeds crop is estimated to decline further to about 126.10 lakh tonnes during the current kharif season, lower than 141.15 lakh tonnes produced last season. Total oil seeds trade during 2015-16 is projected to be 240.85 lakh tonnes, down almost 10% from 266.85 lakh tonnes during the previous fiscal. Vegetable oil yield from kharif oil seeds crops and other sources is estimated to be around 50.95 lakh tones, slightly lower than 53.57 lakh tonnes produced a year ago. Industry experts attributed this decline to an uncompetitive domestic market and sought government’s active support in encouraging farmers to boost domestic ...
