Oilmeals export jumps by 44% during eight-month period

Written by Commodities Bureau | Mumbai | Updated: Dec 7 2008, 04:28am hrs
The total export of oilmeals during the April-November 2008 period registered 33.15 lakh tonne from 23.07 lakh tonne in the same period last year, posting an increase of 44%. The rise in export was due to an increase in exports of soya meal, rape oilmeal and groundnut meal, according to the monthly data released by Solvent Extractors Association of India (SEA).

Oilmeals export in the month of November increased to 6.48 lakh tonne over 5.9 lakh tonne in the same period last year chiefly due to a rise in soya meal shipments. Though shipments of soya meal, rapeseed meal and groundnut meal have increased, there is a fall in the export of rice bran extraction and castorseed extraction, an SEA official said.

The global prices of soya meal reduced to $278 a tonne (FAS) during November over $362 a tonne in the year-ago period. The average price was $419 a tonne in April 2008, sources said.

The export of soyameal jumped to 6.22 lakh tonne in November from 4.80 lakh tonne in the same month in 2007. There was a decline in the export of all other oilmeals such as rapeseed meal, rice bran extraction, castorseed extraction during November. Rapeseed meal export has declined to 25,263 tonne from 79,250 tonne, while castorseed meal export decreased to 617 tonnes from 26,025 tonnes.

There was no export of rice bran extraction in November, while its export was 5,525 tonnes in the corresponding month in 2007. Vietnam and Japan were two major countries who together bought over 3.62 lakh tonne of Indian soyameal in November. Other countries which imported significant quantities of oilmeals include Indonesia, Taiwan, China and Thailand. Indian exporters also shipped 6,800 tonne of oilmeals to Europe during November 2008.