Oilmeal exports double in May

Oilmeal exports jumped 101 per cent at 473,375 tonnes in May compared with 235,113 tonnes in the previous comparable month, according to data compiled by the Solvent Extractors' Association (SEA).

Overall export in the first two months of the current financial year was reported at 1,110,875 tonnes, jumping 66 per cent from 671,084 tonnes in the same period of the previous financial year.

 

B V Mehta, executive director of the Solvent Extractors' Association, said hat prices of all edible oilseeds have almost doubled in the last one year. There has been a good demand from overseas, especially West Asia. This has resulted in about 80-85 per cent of oilmeals being exported in the first half of the oil year (November-October).

"Shipments would decrease in the rest of the oil year as availability of oilmeals become minimal," said Mehta.

Soybean meal price jumped to $432 per tonne on Monday from $272 in May 2007. Again, rapeseed meal spurted to $235 per tonne ($139), groundnut meal $335 per tonne ($220) and rice bran $140 per tonne ($80) in the comparative month last year.

Vietnam has shown a quantum jump in oilmeals imports from India at 309,850 tonnes compared with 271,484 tonnes last year. It consisted of 255,375 tonnes of soybean meal, 11,750 tonnes of rapeseed meal and entire 42,725 tonnes of rice bran extraction.

South Korea imported 192,225 tonnes of oil meals compared with 154,475 tonnes of last year. Of this, 107,300 tonnes were rapeseed meal, 63,000 tonnes soybean meal and 21,925 tonnes castorseed meal during April to May 2008.

The year 2007-08 ended with total output (kharif, rabi both) rising by 11 per cent at 254.9 lakh tonnes (229.7 lakh tonnes).