Oilmeal exports drop 74% in Feb on better price realisation

By: |
March 7, 2020 8:04 AM

During April 2019-February 2020, Vietnam imported 276,655 tonne of oilmeals.

oilmeal export, february oilmeal export, oilmeal data 2020, Solvent Extractors’ Association of IndiaSouth Korea imported 809,733 tonne of oilmeals.

The export of oilmeals during February is provisionally reported at 76,017 tonne compared to 294,510 tonne in February last year— down by 74% — by the Solvent Extractors’ Association of India (SEA).

The overall export of oilmeals during April 2019 to February 2020 is reported at 2,200,690 tonne compared to 2,941,971 tonne in April 2018-February 2019, registering a decline by 25%.

This is mainly due to better price realisation for oilmeals in the domestic market compared to export realisation, coupled with increased domestic consumption resulted into lower exports.

The silver lining for the exports is sharp increase in export of castor meal, which is used as organic fertiliser.

The exports jumped nearly 41% to 505,194 tonne from 359,351 tonne in the same period last year.

During April 2019-February 2020, Vietnam imported 276,655 tonne of oilmeals (compared to 592,697 tonne) consisting of 6,417 tonne of soybean meal, 167,643 tonne of rapeseed meal and 102,595 tonne of de-oiled rice bran extraction.

South Korea imported 809,733 tonne of oilmeals (compared to 699,334 tonne) consisting 51,098 tonne of soybean meal, 365,243 tonne of rapeseed meal and 393,392 tonne of castor seed meal.

Thailand imported 218,320 tonne of oilmeals (compared to 298,400 tonne) consisting 197,798 tonne of rapeseed meal, 17,581 tonne of rice bran extractions and 2,905 tonne of soybean meal. The export from Kandla is reported at 754,590 tonne (34%). Mundra handled 703,303 tonne oilmeals.

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