Agri Business

Oilmeal exports sink 44% in H1 to 4.21 lakh tonnes

Our Bureau Bengaluru | Updated on January 16, 2018 Published on October 07, 2016

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Oilmeal exports for September fell 35 per cent to 90,907 tonnes from 1,39,649 tonnes in the corresponding period last year.

For the first half of the current financial year, cumulative shipments were down 44 per cent at 4,21,741 tonnes over the year-ago period on account of lower availability of seeds for crushing and continued disparity in prices in international markets, the Solvent Extractors Association of India said in a statement.

The decline in shipments was across all varieties of oilmeals, including soyameal, rapeseed meal, groundnut and castormeal (see table).

S-E Asian exports dip

April-September shipments to South Korea, the largest buyer of Indian meal, were reported at 329,464 tonnes — 32 per cent lower than the 481,827 tonnes in corresponding period last year.

Similarly, exports to Vietnam also registered a sharp decrease of 66 per cent at 51,823 tonnes during the first half this year compared with 154,940 tonnes in the corresponding period last year.

Purchases of Indian meal by Taiwan were almost down by half at 11,852 tonnes compared to last year’s 21,094 tonnes.

Myanmar also imported lower volumes at 7,707 tonnes against 10,398 tonnes in the year-ago period.

Around 78 per cent of total oilmeal exports were shipped from the Kandla port, 11 per cent from Kolkata, 3 per cent from Mumbai’s Jawaharlal Nehru Port Trust, and 7 per cent from the Mundra port, SEA said.

Published on October 07, 2016
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