INDIA - India’s oilmeal export to Iran has recorded a huge decrease at 362,091 tonnes during April 2014 to March 2015 financial year, as compared to 1.24 million tonnes exported during the same period last year, Solvent Extractors Association of India (SEAI) said in a statement recently.
On wake of lifting sanctions, Iran shifted soybean meal buying from India to another origins.
Currently India is out priced by $80/90 against other origins for Iranian market, SEAI said while attributed the decrease from exports to Iran. Iran exports included 220,300 tonnes of soybean meal and 141,791 tonnes of rapeseed meal.
Export to South Korea from India during April 2014-March 2015 fiscal year was also down to 935,508 tonnes, as compared to 1.16 million tonnes exported during the same period last year, consisting 512,763 tonnes of rapeseed meal, 420,143 tonnes of castor meal and 2,602 tonnes of soybean meal.
Import from Europe also dropped to 238,192 tonnes, against 632,601 tonnes imported during the last year. Thailand imports was also in negative at 212,639 tonnes, as compared to 313,271 tonnes in the last year period, consisting 204,259 tonnes of rapeseed meal and 8,380 tonnes of soybean meal.
Import from Taiwan also dropped to 73,153 tonnes, against 114,222 tonnes last year; consisting of 34,883 tonnes of rapeseed meal, 25,318 tonnes of castor meal, 12,053 tonnes of soybean meal and 899 tonnes of groundnut meal.
The export to Iran, Thailand, Indonesia, Taiwan drastically reduced due to disparity in export in these regions against severe competition from other origins including China and Argentina, SEAI statement adds.
However, there was some positive news from Vietnam, which recorded an increase at 309,531 tonnes, as compared to 251,952 tonnes last year; consisting of 68,824 tonnes of rapeseed meal, 18,122 tonnes of soybean meal, 1,449 tonnes of groundnut meal and 221,136 tonnes of Deoiled Rice Bran Extraction.
SEAI said that export of De-oiled Rice Bran substantially increased, to Vietnam, attributing positive growth in that country and further added that in spite of absence of buying by China due to ban since January 2012, the overall export of Rapeseed Meal has increased, thanks to big buying from South Korea and Thailand.