The Hindu Business Line : Sept oilmeal exports plummet on lower prices

Chennai, Oct. 7 Lower prices and lean crushing period led to lower oilmeal exports in September with shipments declining nearly 50 per cent compared with the same period a year ago.

According to the Solvent Extractors Association of India (SEAI), total oilmeal exports from the country declined to 1.88 lakh tonnes (lt) in September against 3.63 lt.

“Soyameal prices have declined to $285 a tonne f.o.b from $490 three months ago. In fact, there are no buyers now,” said Mr B.V. Mehta, Executive Director of SEAI.

Apart from the price factor, stocks are not available with the solvent extractors since September is a lean crushing period. “Maintenance work was being carried out in most plants in preparation for the crushing season ahead from this month,” he said.

Asked if there have been any default or deferment of soyameal purchases, Mr Mehta replied in the negative. “Prices are crashing and buyers are in no hurry. They are waiting for the market to stabilise before deciding. It is the sellers who are now in a hurry,” he said.

September apart, overall oilmeal exports during the current fiscal are up at 25.10 lt in the first half against 14.55 lt during the same period a year ago.

Soyameal has been the main force behind the rise in exports. Between April and September, 16.64 lt of soyameal have been shipped out against 7.77 lt last year.

RAPESEED IMPROVES

Rapeseed extraction is another meal that is showing promise this fiscal. Its shipments have improved to 6.05 lt from 3.94 lt last year. Groundnut extraction also increased to 27,033 tonnes from 12.275 during the year-ago period, while rice bran extraction slid to 87,096 tonnes from 1.09 lt last year. Castorseed extraction is another that has witnessed a drop to 1.27 lt from 1.63 lt a year ago.

During September, only 68,843 tonnes of soyameal were exported against 2.38 lakh tonnes last year. Rapeseed extraction shipments were up 1.02 lt from 72,600, while groundnut extraction shipments were a meagre 314 tonnes (7,500 tonnes).

There were no exports of rice bran extraction during September, while castorseed meal exports were down to 17,197 tonnes from 28,400 tonnes.

More Stories on : Oilseeds & Edible Oil | Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bay continues to be put under storm watch

United Spirits plans to offer shares to grape growers

Debt Relief and Loan Waiver — A bad cheque that will bounce

Rubber prices slip below Rs 100/kg

Rubber traders face crisis as prices crash

‘Tea sector picking up on rising demand’

Sept oilmeal exports plummet on lower prices

Pepper futures hit upper circuit

Cardamom price averages above Rs 600/kg

Basmati prices rule lower, seen dropping more