Oilmeal exports dipped by three per cent to 2,74,635 tonnes in July against 2,81,879 tonnes during the same period a year ago.

This was largely due to fall in demand and sharp depreciation of rupee against dollar.

Exports in the first four months of this fiscal were down five per cent at 13,34,788 tonnes against 14,02,835 tonnes during the same period last year.

Disparity in crushing resulted in less availability of oilmeal for exports, said the Solvent Extractors’ Association of India in a press release issued on Tuesday.

The rupee has depreciated to 55.42 in July from 44.70 a year ago.

DEMAND TAPERS

Demand for oilmeals from Japan, Vietnam, Indonesia and European countries fell sharply in July even as Iran, South Korea and Thailand increased their shipments from India. China has completely stopped importing oilmeals from India.

Between April and July, South Korea imported 354,143 tonnes (228,764 tonnes) of oilmeals which consists of 47,500 tonnes of soyameal, 166,628 tonnes of castor meal and 140,015 tonnes of rapeseed meal.

Imports by Thailand and Iran were up at 89,528 tonnes (73,040 tonnes) and 451,915 tonnes (86,212 tonnes), respectively.

Vietnam and Japanese demand was lower at 144,611 tonnes (199,158 tonnes) and 85,181 tonnes (295,054 tonnes).

Exports of soyameal in July were up 21 per cent at 168,341 tonnes (139,551 tonnes).

It increased 12 per cent to 824,208 tonnes (737,522 tonnes) in the first four months of this fiscal, said the Soyabean Processors Association of India.

suresh.iyengar@thehindu.co.in

(This article was published on August 7, 2012)
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