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Oilmeal exports in October decline 55% on disparity

Date: 08-11-2019
Subject: Oilmeal exports in October decline 55% on disparity
The country’s export of oilmeals during October 2019 has been provisionally reported at 105,085 tonne compared to 233,867 tonne in October, 2018, a decrease of 55%. As per the data compiled by the Solvent Extractors’ Association of India, the overall export of oilmeals during April to October 2019 is reported at 13,92,564 tonne compared to 17,32,916 tonne in April to October, 2018, a fall of 24%.

This is mainly due to disparity in export of oilmeals, specifically soyabean meal due to higher MSP of beans which makes the domestic soyabean meal expensive in international market compared to other origins, said BV Mehta, executive director, SEA.

During April to October 2019, Vietnam imported 1,92,440 tonne of oilmeals (compared to 3,38,292 tonne); consisting of 3,668 tonne of soyabean meal, 1,24,590 tonne of rapeseed meal and 64,182 tonne of De-oiled Rice
Bran Extraction.

South Korea imported 5,57,510 tonne of oilmeals (compared to 4,72,935 tonne); consisting 27,326 tonne of soyabean meal, 2,53,523 tonne of  rapeseed meal and 2,76,661 tonne of castorseed meal. Thailand imported 1,30,715 tonne of oilmeals (compared to 1,98,798 tonne) consisting 1,11,367 tonne of rapeseed meal, 17,581 tonne of Rice Bran Extractions and 1,767 tonne of soyabean meal.

The export from Kandla is reported at 5,18,525 tonne (37%), followed by Mundra at 4,50,064 tonne (32%), and Mumbai including JNPT handled 98,394 tonne (7%) and Kolkata handled 89,833 tonne (6%) and other ports handled 235,748 tonne (17%).

Source: financialexpress.com

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