India’s oilmeal exports fell 26% in the first nine months of the current financial year on reduced demand due to the ongoing economic uncertainty in overseas markets.
Data compiled by the apex trade body the Solvent Extractors’ Association (SEA) showed that oilmeal exports nosedived to 2.9 million tonnes for the period between April – December 2012 compared to 3.9 million tonnes in the corresponding period last year.
In December, however, the decline was sharper than that in the preceding months of the year. Overall shipment of oilmeals in December plunged by 43% 0.54 million tonnes compared to 0.95 million tonnes in the same month last year.
“Oilmeal is used prominently as a cattlefeed. Hence, their demand is directly linked with global economies. The ongoing global economic uncertainty has pulled down global demand resulting into lower exports from India so far this year,” said an analyst.
Oilmeal import by South Korea from India during April - December, 2012 was reported at 636,331 tonnes compared to 553,795 tonnes last year consisting of 97,428 tonnes of soybean meal, 250,594 tonnes of castor meal and 288,309 tonnes of rapeseed meal.
Vietnam another major market, imported of 386,072 tonnes compared to 700,472 tonnes last year consisting of 180,269 tonnes of soybean meal, 27,889 tonnes of rapeseed meal, 1,412 tonnes of groundnut meal, 502 tonnes of castor meal and entire quantity of 176,000 tonnes of rice bran extraction.
India’s exports to Japan recorded at 363,226 tonnes in the first nine months of the current fiscal compared to 938,317 tonnes of last year consisting of 362,534 tonnes of soybean meal, 593 tonnes of rapeseed meal and 99 tonnes of castor meal.
Thailand imported of 231,199 tons compared to 301,988 tonnes, consisting 169,397 tonnes of soybean meal, 61,713 tonnes of rapeseed meal and small quantity of 89 tonnes of Castor meal. Indonesia imported 146,016 tonnes compared to 207,626 tonnes consisting of 91,522 tonnes of rapeseed meal and 54,494 tonnes of soybean meal. Iran imported of 493,669 tonnes compared to 175,962 tonnes, consisting 477,669 tonnes of soybean meal, and 16,000 tonnes of rapeseed meal. Europe and others have imported 311,069 tonnes compared to 170,863 tonnes of last year.
