Export of castor seed meal dips to 1.71 lakh MT

Lack of demand in the international market has taken its toll on the export of castor seed meal from India during the period from April 2008 to January 2009. Though oilmeals export during the period has surged by 21 per cent, export of castor seed meal has dipped substantially in the wake of low demand.

As per the data available with The Solvent Extractors' Association of India (SEA), the export of castor seed extraction declined to 1,71,194 metric tonnes (MT) during the ten month period ended January 2009. The export stood at 2,53,400 during April 2007 to January 2008.

Market players attribute ongoing slowdown to the fall in castor seed meal exports. "The demand for castor seed meal has dipped noticeably due to recession. Also, the price of castor seed extraction has come down by 48 per cent in January," said BV Mehta, executive director, Solvent Extractors Association of India (SEA).

Apart from this, exports of other oilmeals such as rice bran extraction and groundnut extraction have also gone down during the same period. However, overall exports of oilmeals for the period April 2008 to January 2009 has increased by 21 per cent to 46,16,486 tonnes from 3,825,410 tonnes during the same period in fiscal 2007-08.

The surge in overall exports of oilmeals is largely due to rise in soybean meal and rapeseed meal exports, which increased to 35,77,577 tonnes and 7,30,302 tonnes from 26,80,200 tonnes to6,91,252 tonnnes respectively.

It may be mentioned here that average international price for soybean meal dipped by 25 per cent in January 2009 as compared to July 2008. Similarly prices of rapeseed meal and groundnut meal have also declined by 28 per cent and 33 per cent respectively.