Oilmeal exports fall 25% in April, castorseeds gain

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Published: May 9, 2019 12:16:29 AM

The export of castorseed meal, however, has increased to 53,591 tonne against 17,257 tonne, according to the Solvent Extractors’ Association of India (SEA). It is mainly exported to South Korea.

Oilmeal, Oilmeal export, castorseeds, market, soyabean, edible oil, financial express, financial express newspaper, financial express todayOilmeal exports fall 25% in April, castorseeds gain (Image: Reuters)

The overall export of oilmeals during April 2019 has been provisionally declined 25% to 1,68,809 tonne, against 2,24,351 tonne in April 2018. The export of castorseed meal, however, has increased to 53,591 tonne against 17,257 tonne, according to the Solvent Extractors’ Association of India (SEA). It is mainly exported to South Korea.

According to data compiled by SEA, the overall export of oilmeals during 2018-19 has revived and reported at 33,24,693 tonne, against 30,26,628 tonne during the same period of 2017-18. In terms of value, the total earning has increased 34% to Rs 6,410 crore against Rs 4,762 crore due to the higher export of rapeseed meal, BV Mehta, executive director, SEA, said.

Export of rapeseed meal rose 65% to 1,094,015 tonne from 663,988 tonne and the export of soyabean meal rose 14% to 13,58,083 tonne from 11,87,818 tonne, he said. During April 2019, Vietnam imported 17,575 tonne of oilmeals as compared to 43,368 tonne in the previous year. This consists of 380 tonne of soyabean meal, 8,795 tonne of rapeseed meal and 8,400 tonne of de-oiled rice bran extraction.

South Korea imported 94,847 tonne of oilmeals which consist 43,935 tonne of rapeseed meal and 50,912 tonne of castorseed meal, against49,649 tonne. Thailand imported 32,337 tonne of soyabean meal, against 19,224 tonne.

The export from Kandla was reported at 120,580 tonne (71%), followed by Mundra handled 37,267 tonne (22%), and Mumbai, including JNPT, handled 2,562 tonne (2%) and Kolkata handled 8,400 tonne (5%), the exporters’ association said.

According to SEA, oilmeal exports during February stood at 141,779 tonne, against 248,663 tonne in February 2018, while the overall exports during April 2018 to February 2019 were reported at 2,786,574 tonnes against 2,765,320 tonnes during the same period in the preceding year.

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