Agri Business

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

Our Bureau Mangaluru | Updated on August 19, 2021

Shipments unlikely to gain until arrival of new soyabean crop, says SEA

With soyabean prices ruling high since the start of the current fiscal, Indian oilmeals’ exports dropped 27 per cent in July compared with last year. In particular, soymeal exports dropped 25 per cent during April-July period of the current fiscal compared with the same period a year ago.

Exports of total oilmeals were 1.91 lakh tonnes (lt) in July compared with 2.62 lt in the year ago period. Compared with June shipments of 2.03 lt this year, July exports were 6.22 per cent lower.

However, overall exports of oilmeals during April-July were 9.26 lt compared with 8.41 in the year-ago period — up 10.11 per cent, according to data compiled by Solvent Extractors’ Association of India (SEA).

Soyabean meal

BV Mehta, Executive Director, SEA of India, said India is currently out priced for export of soyabean meal. The export is unlikely to revive till the country has new crop in October-November period, he added.

The country’s export of soyabean meal stood at 26,725 tonnes in July 2021 as against 61,957 tonnes in July 2020. The shipments were, however, higher than 25,918 tonnes exported in June.

The average CIF price of soyabean meal increased to $950 a tonne in July from $783 a tonne in June.

He said that the government has considered the request received from the Poultry Feed Breeders Association for allowing import of GM soyabean meal. This will give relief to the poultry industry to overcome the shortage of soyabean meal in the country, he said.

Ricebran

Exports of ricebran extraction increased to 39,758 tonnes in July against 37,049 tonnes in June. Overall exports of ricebran extraction increased to 1.92 lt during April-July of 2021 compared with 1.27 lt in the corresponding period last year. ricebran extraction is performing better due to demand from Vietnam and Bangladesh, Said Mehta.

Rapeseed

He said the export of rapeseed meal increased during the April-July period due to higher shipments to South Korea and Thailand. The country exported 4.79 lt of rapeseed meal during April-July this fiscal against 4.36 lt in the year-ago period. Export of rapeseed meal was 94,765 tonnes in July 2021 against 1.10 lt in June.

Castorseed meal

Shipments of castorseed meal increased to 1.09 lt during the review period compared with 85,607 tonnes in year-ago period. In July, exports were 29,940 tonnes against 30,530 tonnes in June.

South Korea was the top importer of oilmeals from India during April-July 2021-22. India exported 2.77 lt (2.85 lt) of oilmeals to South Korea during the period.

However, export of oilmeals to Bangladesh increased during the period. India exported 1.23 lt of oilmeals to Bangladesh during the first four months of the fiscal against 68,655 tonnes in the year-ago period, recording a 80.24 per cent growth.

Both Vietnam and Thailand also witnessed growth in the import of oilmeals during April-July of 2021-22. The export of oilmeals increased to 1.64 lt (1.41 lt) to Vietnam, and to 1.17 lt (74,224 tonnes) to Thailand during the period.

Published on August 19, 2021

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