Oilmeal exports dipped 42 per cent in August to 91,834 tonnes against 156,942 tonnes recorded in the same period last year. This was largely due to low realisation from processing soyabean and other oilseeds being sold at high prices in the domestic markets.
Export of soyameal, once the largest constituent of shipments from India, has been sliding consistently and touched a low of 768 tonnes in August against 928 tonnes in July. The country’s export of soyameal was down at 2,098 tonnes in June against 14,046 tonnes in May, while in April it was at 18,017 tonnes.
In the first five months of this fiscal, the overall exports were down 33 per cent at 609,748 tonnes against 914,849 tonnes in the same period last year, according to the Solvent Extractors’ Association statement.
Capacity utilisation is at the lowest level and many of the oil mills are planning to shut down plants due to lower realisation both from oil and meals produced with raw material sourced domestically, said BV Mehta, Executive Director, SEA.
South Korea remained the largest importer of oilmeal between April and August though its shipments were down by nine per cent at 384,956 tonnes. Korea shipped in 184,555 tonnes of rapeseed meal, 199,716 tonnes of castor meal and 685 tonnes of soyabean meal.
Exports to Vietnam were up 33 per cent at 124,644 tonnes (93,586 tonnes) consisting of 392 tonnes of rapeseed meal, 480 tonnes of soyabean meal and 123,772 tonnes of de-oiled rice bran extraction. Thailand, Taiwan and Oman were other importers of oil meal from India.
Kandla handled 409,212 tonnes of oilmeal, accounting for 67 per cent of shipments from India. Kolkata and Mumbai (including JNPT) shared 23 per cent (141,406 tonnes) and 4 per cent (23,603 tonnes) of total volumes, respectively.