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India’s Oilmeals Export down 36 Per Cent

17 September 2014
Jim Wyckoff Commentary -  TheCropSite

INDIA - India’s oilmeals export has posted a 36 per cent negative growth during April to August at 864,929 tonnes.

During the same period last year, export of oilmeals was recorded at 1.35 million tonnes, Solvent Extractors’ Association of India (SEAI) said in a release.

“Export of soybean meal greatly reduced in last five months due to lower crop than expected resulted in to high cost of soybean in local market.

This lead to total disparity for soybean meal in international market,” SEAI said while attributing the negative growth.

However, SEAI said that during the period share of rapeseed meal increased from 358,196 tonnes to 513,785 tonnes in last five months.

During August 2014 export of oilmeals declined by 58 per cent to 133,404 tonnes, as compared to 317,161 tonnes exported during August 2013.

Import of oilmeal import from South Korea was stagnant during April-August was reported at 416,918 tonnes, against 416,043 tonnes, consisting 230,539 tonnes of rapeseed meal, 184,832 tonnes of castor meal and 1,547 tonnes of soybean meal.

Whereas, import from Iran fell drastically to 127,182 tonnes, as compared to 472,361 tonnes in the last year consisting of 35,500 tonnes of soybean meal and 91,682 tonnes of rapeseed meal.

Thailand imported of 93,542 tonnes, as compared to 97,728 tonnes, consisting 91,135 tonnes of rapeseed meal and 2,407 tonnes of soybean meal.

Import from Vietnam was up to 65,630 tonnes, as compared to 63,266 tonnes imported last year consisting of 22,684 tonnes of rapeseed meal, 5,772 tonnes of soybean meal and 65,630 tonnes of rice bran extraction.

Taiwan imported 37,008 tonnes, against 39,030 tonnes of last year consisting of 23,385 tonnes of rapeseed meal and 13,585 tonnes of castor meal and small quantity of 38 tonnes of soybean meal.

Imports from Europe also recorded a negative growth to 41,253 tonnes, as compared to 179,382 tonnes imported during the same period last year, SEAI adds.

TheCropSite News Desk

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