Oilmeals export down by 34% in June at 1.37 lakh tonnes

Oilmeals export fell by 34 per cent during last month to 1.37 lakh tonnes due to historical low shipments of soyameal on account of high domestic prices, according to industry data.
"The export of oilmeals during June 2015 is reported at 1,37,571 tonnes compared to 2,07,753 tonnes in June 2014, down by 34 per cent," Mumbai-based Solvent Extractors' Association (SEA) said in a statement.
During April-June 2015, the export of oilmeals declined by 29 per cent to 4,41,548 tonnes as compared to 6,25,805 tonnes in the year-ago period.
"Soyabean crushing is very much reduced due to continuous disparity and high price of domestic market, due to heavy speculation in future market vis-a-vis lower realisation for meal and oil affecting overall domestic availability of both oils and meals," SEA said.

The association said that inspite of 5 per cent reward rate under new Exim Policy and rupee depreciation, the export of soybean meal is at a historical low.
Soyameal exports stood at "just 18,017 tonnes in April, 14,046 tonnes in May and only 2,098 tonnes in June 2015," it added.

Besides fall in exports, SEA said the domestic demand has also been subdued, leading to the closure of many processing plants in the country.
"Capacity utilisation is at the lowest and many plants are closed down due to disparity in crushing," SEA added.
South Korea is a major importer of oilmeals from India.

During April-June 2015, oilmeals export to South Korea rose to 3,05,849 tonnes as compared to 2,95,249 tonnes in the corresponding period of previous year.
Exports to Iran fell sharply by 91 per cent at 9,050 tonnes in the first quarter of this fiscal as compared to 1,02,275 tonnes in the year-ago period.
Shipments to Thailand, too, fell by 72 per cent to 12,158 tonnes compared to 44,192 tonnes. Vietnam imported 59,516 tonnes compared to 56,279 tonnes, while Taiwan imported 14,779 tonnes against 20,866 tonnes during the period under review.