Oilmeal exports in decline by 55% in October 2019

The country’s export of oilmeals during October 2019 has been provisionally reported at 105,085 tonnes compared to 233,867 tonnes in October, 2018, a decrease of 55 per cent. As per the data compiled by the Solvent Extractors’ Association of India, the overall export of oilmeals during April to October 2019 is reported at 13,92,564 tonnes compared to 17,32,916 tonnes in April to October, 2018, a fall of 24 per cent.

This is mainly due to disparity in export of oilmeals, specifically soyabean meal due to higher MSP of beans which makes the domestic soyabean meal expensive in international market compared to other origins, according to BV Mehta, executive director, Solvents Extractors Association (SEA).

During April to October 2019, Vietnam imported 1,92,440 tonnes of oilmeals (compared to 3,38,292 tonnes); consisting of 3,668 tonnes of soyabean meal, 1,24,590 tonnes of rapeseed meal and 64,182 tonnes of De-oiled Rice

South Korea imported 5,57,510 tonnes of oilmeals (compared to 4,72,935 tonnes); consisting 27,326 tonnes of soyabean meal, 2,53,523 tonnes of  rapeseed meal and 2,76,661 tonnes of castorseed meal. Thailand imported 1,30,715 tonnes of oilmeals (compared to 1,98,798 tonnes) consisting 1,11,367 tonnes of rapeseed meal, 17,581 tonnes of Rice Bran Extractions and 1,767 tonnes of soyabean meal.

The export from Kandla is reported at 5,18,525 tonnes (37 per cent), followed by Mundra at 4,50,064 tonnes (32 per cent), and Mumbai including JNPT handled 98,394 tonnes (7 per cent) and Kolkata handled 89,833 tonnes (6 per cent) and other ports handled 235,748 tonnes (17 per cent).

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

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