Oilmeal export drops by 63% in January

Export of oilmeals fell by 63 per cent to 1.59 lakh tonnes in January due to a decline in soyabean meal shipments following price disparity in global market, industry body SEA said today.
The country exported 4.35 lakh tonnes of oilmeals, used as animal feed, in the same month last year.
"Export of soybean meal greatly reduced in last ten months due to total disparity for soybean meal in international market," Mumbai-based Solvent Extractors Association of India (SEA) said in a statement.
The average price of soyabean meal at FOB (freight on board) sharply dropped from to USD 460 per tonne in January this year from USD 569 per tonne in September 2014, it said.

Of total oilmeal exports in January, the shipment of soyabean meal was 1.04 lakh tonnes, rapeseed meal at 44,361 tonnes, ricebran extraction at 5,850 tonnes and castorseed meal at 5,255 tonnes, the SEA data showed.
During the April-January period of this fiscal, the export of oilmeals fell by 44 per cent to 20.21 lakh tonnes from 36.26 lakh tonnes in the year-ago.

Export of oilmeals to most countries has been falling. The shipments to South Korea declined by 19 per cent to 7.30 lakh tonnes in April-January of this fiscal, as against 9.01 lakh tonnes in the year-ago.
Similarly, export of oilmeals to Iran fell by 70 per cent to 3.22 lakh tonnes and to Thailand by 39 per cent to 1.89 lakh tonnes in the review period.

India exports oilmeals to South Korea, Thailand, Vietnam, Taiwan, Indonesia, Iran and European nations, among others.