India’s oilmeal exports declined 42 per cent in February on falling demand from the livestock sector, the major consumer of oilmeals.
According to the data compiled by the Solvent Extractors’ Association (SEA), the total oilmeal exports fell sharply to 440,795 tonnes in February compared to 763,047 tonnes during the corresponding month last year. SEA attributes the decline to the stagnation in production of meat and poultry worldwide following the deepening financial crisis affecting consumers’ attraction towards livestock products.
The overall export of oilmeals for April 2008 to February 2009 (11 months) has been reported at 5,057,784 tonnes compared to 4,588,457 tonnes, a rise of 10 per cent.
The export in the first two quarters jumped due to excellent demand and free-on-board (FOB) realisation. The FOB earning during February 2009 was recorded at Rs 790 crore. and the total earning from April 2008 to February 2009 has been estimated at Rs 7,790 crore.
Oilmeal demand started falling about two months ago since the change in consumer behaviour globally, said an industry source.
Indore-based Soybean Processors’ Association (SOPA) reported a 40.5 per cent decline in the soybean meal exports at 381,087 tonnes as against 640,439 tonnes during the same period last year.
The shipment of soybean meal, however, during the financial year ‘08-’09 shows again a good performance by the trade. Exports during the period April ’08 to February ’09 was recorded at 4,022,380 tonnes, registering a growth of 19 per cent from 3,381,415 tonnes in the same period last year.
The average international prices in February ’09 fell with soybean meal reduced over 18 per cent, rapeseed meal over 29 per cent, groundnut 26 per cent, rice bran extraction 20 per cent and castor seed extraction 52 per cent from their respective peaks during August 2008.
Oilmeal exports to Vietnam from April 2007 to February 2009 was recorded at 1,372,205 tonnes compared to 1,467,278 tonnes last year, consisting of 1,208,333 tonnes of soybean meal, 52,885 tonnes of rapeseed meal and entire 110,673 tonnes of rice bran extraction.
South Korea reported an import of 767,079 tonnes compared to 841,575 tonnes of last year, consisting of 338,036 tonnes of rapeseed meal, 243,649 tonnes of soybean meal and 185,394 tonnes of castor seed meal.
Japan again emerged as big importer and bought 765,027 tonnes compared to 608,175 tonnes last year consisting of 758,054 tonnes of soybean meal being non-GMO and 6,973 tonnes of rapeseed meal during April 2008 to February 2009.
Shipment from Kandla is reported at 2,908,774 tonnes (58 per cent), followed by Mumbai including JNPT which handled 1,008,307 tonnes (20 per cent), Bedi 519,777 tonnes (10 per cent), Vizag handled 278,613 tonnes (5.5 per cent), Mundra handled 194,997 tonnes (4 per cent), Kakinada 84,858 tonnes (2 per cent) and Kolkata 54,413 tonnes (1 per cent).
