India's Q1 oilmeal exports fall by 31%

Exports have declined sharply in the last two months due to poor supply of soybean coupled with high price led to total disparity in international market: SEA

Oilmeal exports fell by 31% to 5.92 lakh tonnes during the April-June period of the current fiscal due to sharp decline in soyabean shipments to Iran, South Korea and other countries.

Export of oilmeal, used as animal feed, were 8.56 lakh tonnes in the same period of 2013-14.

According to the Solvent Extractors Association (SEA), soyabean meal exports have declined sharply in the last two months due to poor supply of soybean coupled with high price led to total disparity in international market.

In June, soybean meal exports fell to 2,637 tonne, the lowest level, SEA said in a statement.

As per SEA data, total soyabean exports fell to 1 lakh tonnes in the first quarter of 2014-15, as against 4.09 lakh tonnes in the year-ago period.

Similarly, castor seed meal shipments fell to 1.61 lakh tonnes from 1.89 lakh tonnes and ricebran extraction declined to 10,111 tonnes from 30,410 tonnes in the review period.

However, the export of rapeseed meal rose to 3.20 lakh tonnes during April-June of this fiscal from 2.26 lakh tonnes in the year-ago period, the data showed.

Oilmeal exports to Iran fell by 61% to 1.02 lakh tonnes in the first quarter of this fiscal, while shipments to South Korea declined marginally by 3.12% to 2.95 lakh tonnes in the same period.

The shipments to other countries such as Thailand, Vietnam, Taiwan, Indonesia and Europe remained remained below 50,000 tonnes, SEA added.