Oilmeal exports up on higher output

Oilmeal exports more than doubled in the first two months of the current financial year due to sharp increase in seed production, positive crushing parity and high demand abroad.

Data compiled by the apex trade body, the Solvent Extractors’ Association (SEA), showed a 117 per cent increase in oilmeal exports in April-May to 821,763 tonnes, as compared to 377,950 tonnes in the corresponding period of the previous year. In May, the exports surged 84 per cent to 320,266 tonnes as compared to 173,604 tonnes in the same month last year.

The oil year begins in November and from then in 2010 till end-May, export of oilmeal increased continuously to 4,004,724 tonnes as compared to 2,058,890 tonnes in the same period of the previous year. B V Mehta, executive director of SEA, gives three reasons for the growth. One, a sharp increase in oilseed production to 30.25 million tonnes in the current year (2010-11) as compared to 24.9 mt in the previous year (2009-10). Two, increased availability of oilseed led to higher crushing and production of oil and oilmeal. Three, good crushing parity due to high price of oil and export demand for oilmeal.

Oilmeal shipment to Japan during April-May more than tripled to 205,726 tonnes as compared to 48,887 tonnes last year, consisting of 200,323 tonnes of soybean meal and 5,403 tonnes of rapeseed meal. Vietnam imported 110,072 tonnes as compared to 41,853 tonnes last year comprising 95,076 tonnes of soybean meal, 7,976 tonnes of rapeseed meal and 7,020 tonnes of rice bran extraction. China imported 138,483 tonnes as compared to 100,281 tonnes earlier, consisting of 134,804 tonnes rapeseed meal, 2,288 tonnes of groundnut meal and 1,391 tonnes of soybean meal.

India’s oilmeal exports to South Korea rose to 110,776 tonnes as compared to 88,012 tonnes last year, consisting of 55,470 tonnes of castorseed meal, 52,960 tonnes of rapeseed meal and 2,346 tonnes of soybean meal. Europe imported 43,774 tonnes as compared to 579 tonnes last year.

The export from Kandla port was 404,831 tonnes (49 per cent), followed by Mumbai and Navi Mumbai handling 171,000 tonnes (21 per cent), Mundra 167,441 tonnes (20 per cent), Bedi (near Jamnagar) 52,155 tonnes (six per cent), Vizag 17,100 tonnes (2 per cent) and Kolkata 7,020 tonnes (one per cent).