Oilmeal exports rise 42% on higher domestic availability

Oilmeal exports rose 42 per cent in November due to an improvement in the overall market sentiment coupled with increased activities in crushing locally. Oilmeal is used as a bird and animal feed.

Data compiled by the apex trade body, the Solvent Extractors’ Association of India (SEA), showed oilmeal shipments rose to 492,740 tonnes in November this year as compared to 346,859 tonnes in the corresponding period last year.

Overall exports of oilmeals between April-November 2010 rose 26 per cent to 2.38 million tonnes compared with 1.89 million tonnes in the same period of the previous year.

The upsurge in local crushing helped India liquidate a majority of the carryover stock of soybean before commencement of the new season. The exports and crushing were also supported by good margins in the last two months due to a recovery in edible oil prices.

 

Export of soymeal in November jumped to 443,488 tonnes from 297,340 tonnes in November 2009.

Following SEA delegation visit in April-May this year, export of oilmeals to the West Asian countries revived and reported 202,385 tonnes during April-November this year as compared to 119,751 tonnes in the same period last year, up 70 per cent.

Oilmeal import by South Korea during April-November was reported at 272,662 tonnes compared to 291,182 tonnes, consisting 178,967 tonnes of rapeseed meal, 85,609 tonnes of castor seed meal and 8,086 tonnes of soymeal.

China reported import of 247,601 tonnes compared to 186,530 tonnes of last year, consisting of 176,450 tonnes of rapeseed meal, 14,388 tonnes of groundnut meal, 56,158 tonnes of soymeal and 605 tonnes of castorseed meal.

Japan doubled the import to 670,560 tonnes as compared to 310,015 tonnes last year consisting of 655,260 tonnes of soymeal and 15,300 tonnes of rapeseed meal.

Vietnam imported 402,208 tonnes as compared to 525,805 tonnes last year consisting of 305,951 tonnes of soybean meal, 34,607 tonnes of rapeseed meal and entire 61,650 tonnes of rice bran extraction. Europe once again started buying soybean meal from India and about 50,000 tonnes were shipped in November and larger quantities are expected to move in coming months.