INDIA - Due to falling prices of soybean globally, India’s oilmeals export has recorded a drop of 63 per cent at 159,892 tonnes during January 2015.
During the same period last year, oilmeals export was recorded at 435,966 tonnes, the Solvent Extractors Association of India (SEAI), association of vegetable oils industry and trade said in a statement recently.
“Export of soybean meal greatly reduced in last 10 months due to total disparity for soybean meal in international market,” SEAI said while attributing the fall of exports.
During April 2014 to January 2015, oil exports were also down 1.60 million tonnes or by 44 per cent at 2.02 million tonnes, as compared to 3.62 million tonnes exported during the same period last year.
However, SEAI said that share of rapeseed meal has increased from 738,591 tonnes to 939,946 tonnes, while ricebran extractions export doubled in last 10 months.
Average FOB soybean meal price sharply dropped from $569 in September 2014 to $460 in January 2015, SEAI adds.