Comments
High prices of soyabean and its meal affected soyameal exports in June.
According to the data compiled by Solvent Extractors’ Association of India (SEA), the country exported 25,918 tonnes of soyabean meal during June against 52,434 tonnes in May, recording a decline of 50.57 per cent.
Indian soyameal prices touched $890 a tonne during second week of July compared to $400 (FOB) Argentina.
BV Mehta, Executive Director of SEA, said that India is now totally outpriced for the export of soyabean in the world market as the average price jumped from ₹43,100 a tonne in November to ₹76,000 in July. Soyameal price has gone up from ₹36,100 a tonne in November to ₹65,000 now.
Poultry association bats for duty-free import of 1.2 million tonne soyameal import
Stating that the high price of the meal has hit not only the export but also the poultry farmers, Mehta said mainly small farmers are finding very difficult to survive in this difficult time. High input cost for eggs and chicken has also escalated the chicken prices which affecting consumer, he said.
It is high time that the Government considered imports of soyabean meal, including GM varieties, for short period up to September 30, to cool down prices of both soyabean and soyameal to support the poultry industry, he said.
Overall oilmeal export up
However, the overall export of oilmeals increased by 27 per cent during the first quarter of the financial year 2021-22. The country exported 7,35,312 tonnes of oilmeals during April-June of 2021-22 as against 5,79,387 tonnes in the corresponding period of 2020-21.
Mehta said the export of rapeseed meal increased substantially due to higher shipment to South Korea and Thailand. Ricebran extraction is performing better due to larger demand from Vietnam and Bangladesh.
The export of rapeseed meal stood at 3.84.807 tonnes during Q1 of 2021-22 against 2,88,310 tonnes in the corresponding period of the previous fiscal. India exported 1,53,177 tonnes (98,787 tonnes) of ricebran extraction, and 79,271 tonnes (62,821 tonnes) of castorseed meal during the period.
Buyers abroad shun costlier Indian soyameal
S Korea major importer
South Korea imported 2,52,063 tonnes of oilmeals (1,82,136 tonnes) during the first three months of 2021-22. This included 1,99,635 tonnes of rapeseed meal, 41,472 tonnes of castorseed meal and 10.956 tonnes of soyabean meal.
During the period, Vietnam imported 1,14,857 tonnes (1.20,943 tonnes) of oilmeals from India, including 88,306 tonnes of ricebran extraction, 25,523 tonnes of rapeseed meal and 1028 tonnes of soyabean meal.
Thailand imported 77003 tonnes of oilmeals (65,188 tonnes); Bangladesh imported 90,589 tonnes (25,540 tonnes); and Taiwan imported 23,944 tonnes (37,529 tonnes) of oilmeals during the April-June of 2021-22.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.