‘Oilmeal exports may remain stable at 5 mt in 2013-14’

Virendra Pandit | | Updated on: Mar 12, 2018

Despite higher oilseeds production this year, India’s oilmeal exports are likely to remain stable between 4.8 and 5 million tonnes (mt) in 2013-14, an expert said here on Thursday.

During the April-November 2013 period, oilmeal exports stood at 2.58 mt, around 8 per cent higher than the 2.39 mt during the corresponding period of last year, data from the Solvent Extractors’ Association of India showed. In 2012-13, oilmeal exports stood at 4.84 mt.

Over the next four months, oilmeal exports are likely to be around 2 mt. Last year in the corresponding period of December to March, oilmeal exports were at 2.45 mt.

“According to trade estimates of the Central Organization for Oil Industry & Trade (COOIT), in October, the kharif output of nine major oilseeds rose by 17.2 per cent to 16.9 mt as compared to 15.2 mt in the previous year, due mainly to an increase in the crop size of groundnut by almost 2 mt over the previous year. Despite higher production, oilmeal exports are likely to be in the range of 4.8-5 mt as soyabean production has been impacted by late rains in the growing regions,” said Raju Choksi, Vice-President (Agro-commodities), Anil Nutrients Ltd, a subsidiary of the Rs 650-crore agro and food processing major Anil Ltd.

During the period under consideration, soyameal exports rose 12.3 per cent to 1.56 mt against 1.39 mt in the same period last year.

Almost 65 per cent of the total oilmeal exports come from soyameal. Since soyabean production is expected to be revised downwards, soyameal exports would not be a major factor contributing to growth of exports in the remaining months, he said. Indian exports have now lost their advantage due to high pricing as well as increased global supply from countries such as Brazil and Argentina.

The sowing of oilseeds in rabi has been done on around 7.78 million hectares as on December 12, 2013, as compared to 7.58 million hectares in the same period last year, data from the Agriculture Ministry showed.

 

Published on December 19, 2013
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