INDIA - Export of oilmeals from India has recorded a drop of 43 per cent at 2.22 million tonnes during April 2014 to February 2015, the Solvent Extractors’ Association of India (SEAI) said in report.
During the same period last year, oilmeals export posted at 3.93 million tonnes, SEAI report adds.
“Export of soybean meal has greatly reduced in last 11 months due to total disparity for soybean meal in international market,” SEAI report said attributing the drop.
However, SEAI added, “Brighter side is, the share of rapeseed meal has increased to 1.00 million tonnes from 820,885 tonnes, while ricebran extractions export was more than doubled in last 11 months.
Ricebran exports were at 224,116 tonnes, as compare to 96680 tonnes recorded during April 2013 to February 2014.
Average FOB soybean meal price sharply dropped from $569 in September 2014 to $458 in February 2015.
Contribution from soybean meal during April 2014 to February 2015 was 613,676 tonnes, down from 2.55 million tonnes, whereas castor oil was at 386,831 tonnes, against 455,151 tonnes export during the same period last year.
During February 2015, oilmeals export was also registered a drop of 41 per cent to 181,000 tonnes, as compared to 307,260 tonnes, SEAI adds.