Oilmeal exports drop 73% in September

Exports have been declining since May but the maximum m-o-m fall was witnessed during the last month: SEA

India's oilmeal exports slumped by 73% to 82,749 tonnes in September this year on significant decline in shipments of soyameal due to lower domestic crop, according to industry body SEA.

Export of oilmeal, used as animal feed, stood at 3,01,717 tonnes in the same month last year.

"Soybean meal exports greatly reduced in last six months due to lower-than-expected crop, resulting into high cost of soybean in local market.

"This lead to total disparity for soybean meal in international market," Mumbai-based Solvent Extractors' Association (SEA) said in a statement.

 

For the first time in last six months, oilmeal exports fell below 1,00,000 tonnes mark. However, brighter side was that the share of rapeseed meal increased in the last six months, it added.

Of total oilmeal exports in September, soyabean meal comprised of 868 tonnes, rapeseed meal (58,567 tonnes), ricebran extraction (1,500 tonnes) and castorseed meal was 21,814 tonnes.

According to SEA's latest data, oilmeal exports have been declining since May but the maximum month-on-month fall was witnessed during the last month.

In the first six months of this fiscal, overall oilmeal exports remained down by 43% at 9,50,599 tonnes as compared to 16,57,697 tonnes in the same period.

Export to South Korea fell by 10.35% to 4,64,555 tonnes in April-September of this fiscal and shipments to Iran dropped by 75% to 1,42,357 tonnes in the same period.

Overseas sale of oilmeals to Indonesia, Taiwan Thailand, Vietnam and Europe remained down in last six months.