The country's overall oilmeal exports dropped to 12.51 lakh tonne for the first six month period of April-September 2019 as against 14.99 lakh tonne reported in the same period last year.
The country’s overall oilmeal exports dropped to 12.51 lakh tonne for the first six month period of April-September 2019 as against 14.99 lakh tonne reported in the same period last year, indicating a dip of 17% on a year-on-year basis, according to the data released by Solvent Extractors Association of India (SEA).
The association’s provisional data reveals that for September alone, soyabean meal exports reduced to 19,152 tonne as against 95,450 tonne in the preceding month. The dip in exports is primarily attributed to the disparity in export of oilmeals, specifically soyabean meal due to higher Minimum Support Price (MSP) in the local market. This makes the domestic oilmeals expensive in international market as compared with other origins, SEA noted.
The sharpest fall is seen in soyabean meal exports at 347,785 tonne, which is down from 417,157 tonne for the April-September period. Soyabean meal and castorseed meal prices hovered at the higher end in September 2019 as compared with what was seen in the same month last year.
The soyabean oil prices quoted at $446 per tonne, FOB Indian port, which was $367 a tonne last year. Similarly, castorseed meal prices also jumped to $102 per tonne, as against $91 in the same month last year. However, the currency exchange rate remained stable with Rs 71.3 a dollar in September 2019 as against Rs 72.28 a dollar in the same month of previous year.
During April-September 2019, Vietnam imported 170,705 tonne of oilmeals (compared to 293,001 tonne); consisting of 3,070 tonne of soyabean meal, 107,183 tonne of rapeseed meal and 59,933 tonne of De-oiled Rice Bran Extraction. South Korea imported 505,290 tonne of oilmeals (compared to 463,145 tonne), consisting 23,288 tonne of soyabean meal, 237,930 tonne of rapeseed meal and 244,072 tonne of castorseed meal.
Thailand imported 125,472 tonne of oilmeals (compared to 187,159 tonne) consisting 106,342 tonne of rapeseed meal, 17,581 tonne of Rice Bran Extractions and 1,549 tonne of soyabean meal. The export from Kandla is reported at 483,770 tonne (39%), followed by Mundra which handled 385,699 tonne (31%), Mumbai, including JNPT, handled 88,895 tonne (7%), Kolkata handled 85,313 tonne (7%) while others ports handled 207,850 tonne (17%).