Oilmeal exports down on poor demand

India’s oilmeal exports fell 26 per cent in the first nine months of the current financial year on reduced demand due to the ongoing economic uncertainty in overseas markets.

Data compiled by the apex trade body, the Solvent Extractors’ Association (SEA) showed that oilmeal exports nosedived to 2.9 million tonnes for the period between April – December, 2012 compared to 3.9 million tonnes in the corresponding period last year.

In December however, the decline was sharper than that in the preceding months of the year. Overall shipment of oilmeal in December plunged by 43 per cent — 0.54 million tonnes compared to 0.95 million tonnes in the same month last year.

The ongoing global economic uncertainty has pulled down worldwide demand resulting in lower exports from India so far this year, said an analyst.

POOR OFFTAKE Month-wise oilmeal exports (in tonnes)
Month	2011	2012	% change
April	537,937	400,589	-25.53
May	328,607	354,738	7.95
June	254,412	305,934	20.25
July	281,879	277,419	-1.58
August	291,466	120,395	-58.69
September	402,500	143,990	-64.23
October	354,698	121,919	-65.63
November	530,456	641,285	20.89
December	953,526	544,946	-42.85
Total	3,935,481	2,911,215	-26.03
Source: Solvent Extractors’ Association

Oilmeal import by South Korea from India during April - December, 2012 was reported at 636,331 tonnes compared to 553,795 tonnes last year consisting of 97,428 tonnes of soybean meal, 250,594 tonnes of castor meal and 288,309 tonnes of rapeseed meal.

Vietnam, another major market, imported of 386,072 tonnes compared to 700,472 tonnes last year consisting of 180,269 tonnes of soybean meal, 27,889 tonnes of rapeseed meal, 1,412 tonnes of groundnut meal, 502 tonnes of castor meal and entire quantity of 176,000 tonnes of rice bran extraction.

India’s exports to Japan recorded at 363,226 tonnes in the first nine months of the current fiscal compared to 938,317 tonnes of last year consisting of 362,534 tonnes of soybean meal, 593 tonnes of rapeseed meal and 99 tonnes of castor meal.

Thailand imported 231,199 tons compared to 301,988 tonnes, consisting 169,397 tonnes of soybean meal, 61,713 tonnes of rapeseed meal and 89 tonnes of castor meal. Indonesia imported 146,016 tonnes compared to 207,626 tonnes consisting of 91,522 tonnes of rapeseed meal and 54,494 tonnes of soybean meal. Iran imported of 493,669 tonnes compared to 175,962 tonnes, consisting of 477,669 tonnes of soybean meal, and 16,000 tonnes of rapeseed meal. Europe and others have imported 311,069 tonnes compared to 170,863 tonnes during the last year.