Oilmeal exports up by 101% in May

Oilmeals exports grew 101 per cent in May 2008 at 473,375 tonnes as compared to 235,113 tonnes in the same month last year, according to data compiled by the Solvent Extractors' Association (SEA). The overall export of oilmeals for the first two months of the current fiscal year is reported at 1,110,875 tonnes, an increase of 66 per cent from 671,084 tonnes in the same period last year.

 

Justifying reasons for exports, B V Mehta, executive director of the solvent extractors' association said, "prices of all edible oilseed have almost doubled in the last one year." Farmers are lured with good demand of Indian oilmeals especially in Middle East thereby, shipping of about 80-85 per cent of meals in the first half of the oil year (November - October).

"Shipment would decrease now for the rest of oil year as availability of oilmeals would be minimal," said Mehta.

Soybean meal price has surged to $432 per tonne today from $272 per tonne in the same May 2007. Similarly, rapeseed meal spurted to $235 per tonne from $139 per tonne, groundnut meal to $335 per tonne from $220 per tonne while rice bran surged to $140 per tonne from $80 per tonne in the comparative month last year.

Vietnam has shown quantum jump in import of oilmeals from India and reported at 309,850 tonnes compared to 271,484 tonnes last year, consist of 255,375 tonnes of soybean meal, 11,750 tonnes of rapeseed meal and entire 42,725 tonnes of ricebran extraction from India.

South Korea reported import of 192,225 tonnes compared to 154,475 tonnes of last year, consist of 107,300 tonnes of rapeseed meal, 63,000 tonnes of soybean meal and 21,925 tonnes of castorseed meal during April to May 2008.

The export from Kandla is reported at 695,625 tonnes (63 per cent), followed by Mumbai which handled 192,350 tonnes (17 per cent), Bedi-117,875 tonnes (11 per cent) , Kakinada-65,250 tonnes (6 per cent), and Vizag handled 39,775 tonnes (4 per cent).

The year 2007-08 ended with a total (kharif + rabi) output recording 11 growth at 254.9 lakh tonnes from 229.7 lakh tonnes during last year.