Oilmeal exports drop 10 per cent in May

Oilmeal exports in May declined by 10 per cent to 230,025 tonnes compared with 256,325 tonnes in the year-ago period mainly due to a drop in exports of soybean and groundnut meal.

In the month under consideration, exports of soybean meal slumped to 110,050 tonnes from 140,075 tonnes a year ago. Groundnut meal, whose exports were 18,525 tonnes last May, recorded nil exports this May. The failure in groundnut crop has largely been attributed to the zero exports of groundnut meal, according to data compiled by the Solvent Extractors' Association of India (SEA).

However, oilmeal exports grew 8.1 per cent between November 2006 and May 2007 to 38,67,600 tonnes compared with 35,77,500 tonnes a year ago. Falling acreage, coupled with growing domestic demand, resulted in a 47 per cent decline in exports in May and 41 per cent drop in exports in April compared with the numbers last year.

Experts believe a slowdown in exports in the first quarter is a common phenomenon that happens almost every year. Last year too, the exports had dipped by 36 per cent at 256,300 tonnes in May and 51 per cent at 399,200 tonnes in April.

In the first two months of the current financial year, Vietnam recorded a rise in imports of oilmeals from India at 263,375 tonnes, making up 208,350 tonnes of soybean meal, 15,775 tonnes of rapeseed meal, with ricebran extraction accounting for the balance 39,250 tonnes. South Korea imported 154,475 tonnes from India.During the period, China and Indonesia witnessed a decline of 51 per cent and 30 per cent in oilmeal imports from India at 65,175 tonnes and 51,700 tonnes compared with 133,125 tonnes and 74,450 tonnes, respectively.