Agri Business

High prices bring down soyameal export by 59% in August

Our Bureau Mangaluru | Updated on September 17, 2021

Situation unlikely to revive until the arrival of new crop in October-November, says SEA

Exports of soyameal dropped by 58.93 per cent in August in view of high prices that made the commodity lose its competitive edge in the global market.

According to data compiled by the Solvent Extractors’ Association (SEA) of India, the country exported 10,975 tonnes of soyameal in August against 26,725 tonnes in July.

BV Mehta, Executive Director of SEA of India, said India is currently outpriced in the soyameal export market, and it is unlikely to revive till the country gets new crop in October-November period.

The average export price of soyameal went up to $1,133 a tonne in August. It was at $950 a tonne in July, and at $783 a tonne in June.

Oilmeals exports slide 27% during April-July on costlier soyameal

He said the Government has considered the request received from the Poultry Feed Breeders’ Association for allowing import of GM soyameal. The last date of shipment or date of issuance of the Bill of Lading or Lorry Receipt date is October 31.

Mehta said the shipments of import consignments, with Bill of Lading/Lorry Receipt issued on or before October 31, should arrive before January 31. This will give some relief to the poultry industry to overcome the current shortage of soyameal in the country, he said.

Overall oilmeal exports

The overall oilmeal exports stood at 1.71 lakh tonnes (lt) in August against 2.62 lt in July. For the period April-August, overall oilmeal exports stood at 10.91 lt ( 10.13 lt) recording a growth of 8 per cent.

Stating that the export of oilmeals showing improvement in the first five months of the fiscal 2021-22, he said the export of rapeseed meal has increased substantially due to higher shipment to South Korea, Thailand and Bangladesh.

The country exported 5.42 lt of rapeseed meal during April-August of 2021-22 against 4.87 lt in the corresponding period of the previous fiscal.

Indian soyameal outpriced in global market, exports slump 50% in June

He said ricebran extraction is performing better due to larger demand from Vietnam and Bangladesh. The country exported 2.65 lt of ricebran extraction during first five months of 2021-22 as against 1.57 lt.

Export of castormeal has shown a better performance compared to last year, said Mehta. India exported 1.27 lt of castormeal during April-August of 2021-22 as against 1.18 lt in the corresponding period of 2020-21.

S Korea, top importer

During April-August, South Korea imported 3.08 lt (3.13 lt) of oilmeals from India. This included 2.18 lt of rapeseed meal, 75,696 tonnes of castormeal and 14,569 tonnes of soyameal.

Vietnam imported 2.30 lt (1.63 lt) of oilmeals which comprised 1.77 lt of ricebran extraction, 51,595 tonnes of rapeseed meal, 1,448 tonnes of soyameal and 77 tonnes of groundnut meal.

Thailand imported 1.20 lt (80,622 tonnes) of oilmeals from India. This included 1.08 lt of rapeseed meal, 9,816 tonnes of castormeal, 1,218 tonnes of soyameal and 1,005 tonnes of ricebran extraction.

Bangladesh imported 1.60 lt (1.07 lt) of oilmeals from India. This included 66,913 tonnes of ricebran extractions, 93,005 tonnes of rapeseed meal and 141 tonnes of soyameal.

Taiwan imported 37,496 tonnes (63,241 tonnes) of oilmeals from India. This included 24,523 tonnes of castormeal, 10,663 tonnes of rapeseed meal, and 2,310 tonnes of soyameal.

The US imported 48,169 tonnes (93,225 tonnes) of oilmeals from India. This included 47,325 tonnes of soyameal and small quantity of rapeseed meal.

Published on September 17, 2021

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