Ever Lowest Oilmeals Export
The Solvent Extractors' Association of India has compiled the export data of oilmeals for the month of January 2016 The export of oilmeals during January 2016 is reported ever lowest export at 17,243 tons compared to 185,654 tons in January 2015 i.e. down by 91%. The overall export of oilmeals during April 2015 to January 2016 is reduced to half (51%) compared to last year and reported at 1,005,085 tons against 2,047,937 tons during the same period of last year and 3,646,095 tons in 2013-14. Soybean crushing is very much reduced due to continuous disparity and high price of domestic market affecting overall domestic availability of both oils and meals. The capacity utilization is at the lowest. Industry is passing through very tough time and many plants are close down or operating at very low capacity due to disparity in crushing and export. Rapeseed meal export is also reduced to 1/3rd of last year.The export of soybean meal is at a historical low during current year and reported just 69,263 tons during the first ten months of the financial year 2015-16 compared to 549,162 tons in the previous year 2014-15 and 2,375,231 tons during the same period of 2013-14. Currently FOB/FAS Indian soybean meal is quoted at US$ 492 per ton against Argentina origin soybean meal CIF Rotterdam at US$ 335 per ton. Indian soybean meal is totally out priced by about US$ 160 per ton in international market.
The alarming declines of Indian oilseeds production and crushing are going along with booming import demand for vegetable oils and have brought oilmeal exports from India almost to a standstill. The Association has pleaded with the Central Government for reducing the import duty to 5-10% from the current 30% on high oil content oilseeds like rapeseed/mustard(canola) and sunflower seed. This will have a multitude of advantages viz. reduce import of edible oils, larger availability of oilmeals for local consumption by feed industry and export and increase value addition in India thus contribute towards the Prime Ministers Make-in-India Programme. Further the oilseeds imports will not have any adverse impact on the farmers as they are protected with an assured M.S.P. by the Government.
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