1. Export of oilmeals up 19% in April

Export of oilmeals up 19% in April

The overall export of oilmeals during April 2017 stood at 135,474 tonnes compared to 113,978 tonnes in April 2016 — up by 19%, according to data compiled by Solvent Extractors’ Association (SEA).

By: | Pune | Published: May 9, 2017 6:07 AM
The recent increase in Indian soya oil imports is also exerting pressure on domestic soya oil prices, which together with soybean sales is squeezing crushing margins. (Reuters)

The overall export of oilmeals during April 2017 stood at 135,474 tonnes compared to 113,978 tonnes in April 2016 — up by 19%, according to data compiled by Solvent Extractors’ Association (SEA). India’s competitiveness of soybean meal in international market has further reduced which resulted into slowing down of shipments from India. This also affected the crushing. The recent increase in Indian soya oil imports is also exerting pressure on domestic soya oil prices, which together with soybean sales is squeezing crushing margins.

In April 2017, oilmeal imported by Vietnam from India were reported at 8,672 tonnes; consisting of 6,382 tonnes of soybean meal, 790 tonnes of rapeseed meal and 1,500 tonnes of rice bran extraction, SEA said in a statement issued on Monday.

Europe was major importer of Indian soybean meal. Germany imported 25,351 tonnes of soybean meal, France imported 25,861 tonnes; consisting of 25,861 tonnes of soybean meal and 969 tonnes of castor meal and rest of European countries imported 46,174 tonnes. Indonesia imported 11,450 tonnes; consisting 10,992 tonnes of soybean meal and 458 tonnes of rapeseed meal.

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