Oilmeal exports rise 53% in September

India’s oilmeal exports rose 53 per cent in September on improved availability for crushing and a rise in the free-on-board realisation.

Data by the Solvent Extractors’ Association (SEA) showed total exports surged to 354,252 tonnes compared to 231,297 tonnes in the corresponding month of the previous year.

However, overseas shipments during the first half of the financial year recorded a marginal rise of 12 per cent to 1.38 million tonnes as compared to 1.23 million tonnes in the same period of the previous year.

The second quarter of the current financial year was better than the first quarter as farmers released heldover stocks amid fears that prices may collapse after the new crop hits the market in October.

 

Close to 40 per cent of nearly 9.7 million tonnes soybean produced last year was held by farmers until June in anticipation of higher prices in the ongoing lean season. But farmers and stockists released stocks gradually to create space for the new crop. A sudden recovery in price made crushing profitable, resulting in mills raising their capacity to clear last year’s stocks before new arrivals begin. This year, the output of oilseeds is estimated to rise, with soybean output likely to be over 10 million tonnes for the first time.

In the first quarter, oilmeal exports were 536,700 tonnes as compared to 614,528 tonnes in the previous year, a decline of 13 per cent. However, they recovered in the second quarter to 839,509 tonnes as compared to 619,433 tonnes in the same period of the previous year.

Soymeal exports rose 32 per cent in the first half of the current financial year to 852,877 tonnes from 644,569 tonnes in the corresponding period of the previous year.

Oilmeal imports by South Korea April-September 2010 were 181,803 tonnes as compared to 182,920 tonnes, consisting of 109,387 tonnes of rapeseed meal, 64,604 tonnes of castor seed meal and small quantity of 7,812 tonnes of soybean meal.

China reported import of 182,007 tonnes as compared to 169,702 tonnes of last year, consisting of 155,758 tonnes of rapeseed meal, 13,371 tonnes of groundnut meal, 12,273 tonnes of soybean meal and 605 tonnes of castorseed meal.

Japan reported import of 388,778 tonnes as compared to 171,920 tonnes last year consisting of 373,478 tonnes of soybean meal and 15,300 tonnes of rape seed meal.

Vietnam imported of 224,342 tonnes as compared to 328,656 tonnes last year consisting of 144,457 tonnes of soybean meal, 26,735 tonnes of rape seed meal and entire 53,150 tonnes of rice bran extraction.

The export from Kandla is reported at 611,019 tonnes (44 per cent), followed by Mumbai including JNPT which handled 456,244 tonnes (33 per cent), Mundra handled 229,562 tonnes (17 per cent), Kolkata handled 53,150 tonnes (4 per cent), Bedi handled 18,800 tonnes (1 per cent) and Bhavnagar handled 7,434 tonnes (1 per cent).