Export of Oilmeals down by 52% April 2015 - February 2016

The Solvent Extractors' Association of India has compiled the export data for export of oilmeals for the month of Feb.,2016. The export of oilmeals during Feb.,2016 is reported at 53,866 tons compared to 208,499 tons in Feb.,2015 i.e. down by 74%. The overall export of oilmeals during April 2015 to February 2016 is reduced to half (52%) compared to last year and reported at 1,092,905 tons against 2,256,436 tons during the same period of last year and 3,969,903 tons in 2013-14. Soybean crushing is very much reduced due to continuous disparity and high price of domestic market affecting overall domestic availability of both oils and meals. The capacity utilization is at the lowest. Industry is passing through very tough and rough time and many plants are close down or operating at very low capacity due to disparity in crushing and export. Rapeseed meal export is also reduced to 1/3rd of last year.

The export of soybean meal is at a historical low during current year and reported just 70,390 tons during the first eleven months of the financial year 2015-16 compared to 613,676 tons in the previous year 2014-15 and 2,558,781 tons during the same period of 2013-14. Currently FOB/FAS Indian soybean meal is quoted at US$ 480 per ton against Argentina origin soybean meal CIF Rotterdam at US$ 321 per ton. Indian soybean meal is totally out priced by about US$ 160 per ton in international market.

 

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