Oilmeal exports nosedive 57% in Q1

According to data compiled by Mumbai-based the Solvent Extractors’ Association (SEA), overall exports of animal feed fell to 614,528 tonnes during the April -June quarter of the current year as compared to 1,433,806 tonnes in the corresponding quarter last year.

Total export of soybean meal nosedived 74 per cent during the period to 287,047 tonnes from a staggering 11,07,558 tonnes while exports of rice bran extraction slumped to 38,488 tonnes from 81,418 tonnes. Similarly, castor extraction export fell to 40,290 tonnes from 46,610 tonnes in the quarter under consideration.

In contrast, exports of rapeseed extraction surged to 248646 tonnes during April -June quarter of the current fiscal from 197195 tonnes in the comparable quarter of last year.

The export during June 2009 is reduced to 197,593 tonnes as compared to 295,204 tonnes in June 2008. Of this, soybean extraction contributed 109923 tonnes (241508 tonnes), rapeseed extraction 58805 tonnes (19245 tonnes), rice bran extraction 12580 tonnes (10966 tonnes) and castorseed extraction reported at 16,046 tonnes as against 23485 tonnes in June 2008.

Soybean crop failure in South America resulted a sharp decline in world supplies of the largest consumable edible oilseed by 22 million tonnes during the current season. As a consequence, production of soybean and other oilmeals could not increase sufficiently. Following this, price of soybean and other oilmeals firmed up since January 2009, however slightly lowered in last few days due to weak global demand.

Prices of soybean meal slumped to $450 per tonne on July 2, from the average prices of $460 (average) and $461 per tonne (average) in June and May 2009 respectively from the level of $368 in January this year.

Similarly, rapeseed meal fell to $248 per tonne after hitting the high of $255 per tonne (average) in June from $178 per tonne in January this year.

During the quarter, China bought 93,289 tonnes of oilmeals mainly consisting of rapeseed meal of 92,629 tonnes and small quantity of soybean meal.

However, export to Vietnam greatly reduced to 200,677 tonnes from 413,954 tonnes in April-June ’08. Similarly export to South Korea, Japan, Indonesia and Thailand also reduced due to reduction in consumption. 

The export from Kandla is reported at 361,329 tonnes (59 per cent), followed by Mumbai including JNPT which handled 107,032 tonnes (17 per cent), Mundra handled 73,901 tonnes (12 per cent), Kakinada 30,790 tonnes (5 per cent), Bedi 19,408 tonnes (3 per cent), and Vizag handled 15,300 tonnes (2 per cent).