Oilmeal exports fell 16 per cent in May following lower demand, especially from South Korea, Iran and Vietnam.
Exports fell to 3,02,837 tonnes against 3,59,855 tonnes in the same period a year ago, according to data released by the Solvent Extractors’ Association.
Oilmeal exports in the first two months of the financial year have been dropping.
In April, exports plunged by 51 per cent to 1,99,168 tonnes.
Overall exports in last two months dipped 34 per cent to 5,02,005 tonnes compared with 7,62,945 tonnes.
Soyameal exports in April and May dropped 57 per cent to 1,95,943 tonnes (4,56,420 tonnes).
Apart from the fall in demand, the weakening of the rupee against the dollar also played spoilsport.
In May, the rupee dipped to 54.98 against the dollar, while it was quoted at 54.32 in April.
Soyabean meal prices were up marginally at $618 (Rs 33,978) a tonne against $616 (Rs 33,868) in April, while rapeseed meal prices were up by $1 at $272.
Iran imports
Oilmeal import by South Korea was down seven per cent at 1,98,367 tonnes (2,12,388 tonnes), which consisted of 68,158 tonnes of rapeseed meal and 1,30,209 tonnes of castormeal. Iran imported 1,48,234 tonnes (1,50,974 tonnes) consisting 1,48,158 tonnes of soyabean meal and a small quantity of rapeseed meal.
other shipments
India’s shipments to Thailand were lower at 48,047 tonnes (67,026 tonnes), consisting 9,166 tonnes of soyabean meal and 38,881 tonnes of rapeseed meal.
Vietnam imported of 26,545 tonnes compared to 88,825 tonnes last year, while that of Japan fell to 10,141 tonnes (84,989 tonnes).
Europe and other countries have imported 12,237 tonnes compared to 28,844 tonnes last year.