Oilmeal exports dip in September

In sharp contrast to the whopping 72 per cent rise in India’s oilmeal exports in the first six months of 2008-09, the figure in September has declined by almost half due to depleting stocks.

Oilmeal exports between April and September this year shot up to 250,900 tonnes from 145,500 tonnes in the same period last fiscal, according to Solvent Extractors Association of India.

However, the shipments in September fell by 48 per cent to 198,000 tonnes from 362,000 tonnes in the year-ago period.

“In September last year, oilmeal prices were ruling high in global markets. Also, there were huge stocks left with traders to export. But this year, traders have already shipped so much due to good prices that there is hardly any stocks left for exports,” SEA Executive Director B V Mehta said when asked about the reason for the decline in September.

That apart, oilmeal export prices have declined from about $490 in August to $350 now, he said, adding that the easing prices have influenced shipments.

Pamela exports in the first half of this fiscal rose from 786,000 tonnes to 166,400 tonnes, rapeseed meal from 394,000 tonnes to 604,000 tonnes and groundnut meal from 1.22 million tonnes to 270,033 tonnes, SEA said.

But exports of other oilmeals like rice bran extraction and castor seed extraction have declined during the period.

Among the major export markets, Vietnam has shown quantum jump in its import from India, which touched 587,000 tonnes compared with 533,000 tonnes last year, comprising 466,000 tonnes of soyameal, 33,668 tonnes of rapeseed meal and entire 87,096 tonnes of ricebran extraction from India.

South Korea, too, reported the import of 461,000 tonnes, against 323,000 tonnes of last year, consisting of 276,998 tonnes of rapeseed meal, 63,289 tonnes of soyameal and 121,000 tonnes of castorseed meal.