India’s Oilmeals Export Down by 21 Per Cent13 June 2014
INDIA - India’s oilmeals export during April to May 2014 has recorded a 21 per cent decrease at 390,596 tonnes according to the Solvent Extractors’ Association of India (SEAI).
During the same period last year, total export of oilmeals was recorded at 495,864 tonnes.
Export of oilmeals during May 2014 was recorded at 153,761 tonnes compared to 298,310 tonness in May 2013, registering a huge 49% drop.
There was substantial export of Rapeseed Meal to South Korea and Thailand.
However, export of soybean meal export drastically reduced in April-May 2014 due to high price of soybean leading to disparity in crushing margin and export.
The drop in export were due to less imports from Iran, South Korea and Thailand, which were the major importers of oilmeals during the same period last year.
Oilmeal import by Iran during April-May 2014 was reported at 63,115 tonnes, as compared to 148,234 tonnes last year consisting of 35,500 tonnes of soybean meal and 27,615 tonnes of rapeseed meal.
South Korea imported 161,241 tonnes, against 198,367 tonnes, which included 98,957 tonnes of rapeseed meal, 61,667 tonnes of castor meal and 617 tonnes of soybean meal.
Thailand imports drop to 42,550 tonnes from 48,047 tonnes, whereas Vietnam imported 19,939 tonnes compared to 20,404 tonnes last year.
Indonesia imported 13,742 tonnes, as compared to 20,164 tonnes of last year.
Europe has turned out to be bigger market for Indian Non GMO Soybean Meal. Europe imported 35,977 tonnes, against 12,237 tonnes of last year, the statement adds.
TheCropSite News Desk