Oilmeal exports drop 11% in FY'14

The country's oilmeal exports fell by 11 per cent to 43.31 lakh tonnes in the 2013-14 fiscal on sharp decline in shipments to Japan, Vietnam and Indonesia, industry body Solvent Extractors India said today.
In value terms, the export of oilmeal -- used as animal feed -- fell marginally by 3 per cent to Rs 11,450 crore from Rs 11,800 crore in the same period, it said in a statement.
In the previous year, exports stood at 48.5 lakh tonnes.
"Export to Japan, Vietnam and Indonesia drastically reduced due to disparity in exports in these regions against severe competition from other origins, including China and Argetina," the Solvent Extractors India (SEA) said.

Of total exports in 2013-14 fiscal, soyabean meal shipments stood at 27.81 lakh tonnes, castorseed meal at 5.33 lakh tonnes, rapeseed meal at 9.16 lakh tonnes and ricebran extraction at 97,580 tonnes.
Soybean meal and ricebran extraction shipments declined in 2013-14. However, in spite of absence of buying by China due to ban since January 2012, overall rapeseed meal export rose, thanks to big buying from South Korea and Thailand, SEA said.
The industry body also mentioned that export of castor meal substantially increased in the said period, mainly from South Korea.
That apart, France has turned out to be a big buyer of soybean meal, due to lesser supply from other origins and preference for Non-GMO soybean meal, it added.