Export of Oilmeals down by 29% in first Quarter April-June 2015

Soybean Meal Export at Historical Low - 2,098 MT in June 2015

The Solvent Extractors' Association of India has compiled the export data for export of oilmeals for the month of June 2015. The export of oilmeals during June 2015 is reported at 137,571 tons compared to 207,753 tons in June 2014 i.e. down by 34%. The overall export of oilmeals during April-June 2015 is reduced and reported at 441,548 tons compared to 625,805 tons during the same period of last year i.e. down by 29%. Soybean crushing is very much reduced due to continuous disparity and high price of domestic market, due to heavy speculation in future market vis-vis lower realization for meal and oil affecting overall domestic availability of both oils and meals. In spite of 5% Reward Rate under new Exim Policy and rupee depreciation, the export of soybean meal is at a historical low and reduced and reported just 18,017 tons in April, 14,046 tons in May and only 2,098 tons in June 2015. Also the domestic demand for oilmeals has reduced adding to the woes of the industry. Capacity utilization is at the lowest and many plants are close down due to disparity in crushing.

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