INDIA - India has recorded a drop in oilmeal exports during April 2014 to March 2015 at 2.44 million tonnes, as compared to 4.38 million tonnes exported during the same period last year.
In value terms, total earning from export during April 2014 to March 2015 was down to $0.68 billion, as compared to $1.88 billion earned during April 2013 to March 2014, registering 63 per cent drop, Solvent Extractors’ Association of India (SEAI) said in a statement.
SEAI attributed the drop in export to high price of soybean in domestic market against lower realization for meal and oil. Export to Japan, Iran, Thailand, Indonesia, Taiwan and Vietnam drastically reduced due to disparity in export in these regions against severe competition from other origins including China and Argentina, SEAI atressed.
SEAI also said that in last one year average FOB soybean meal price sharply dropped from $ 606 in March 2014 to $448 in March 2015.
India has lost Vietnam market for soybean meal due to stiff competition from other origins and increased availability from domestic crushing of imported soybean.
Oil meal export during March 2015 was also down by 55 per cent to 187,360 tonnes, as compared to 412,091 tonnes exported during March 2014, SEAI adds.