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Oilmeal exports dipped 46 per cent in June to 1,93,313 tonnes against 3,60,822 tonnes in the same period last year. The drop in exports was largely due to a sharp fall in soyameal shipment as crushing of soyabean was affected on the back of supply constraints.
Soyameal export in June plunged to a record low of 2,637 tonnes, according to the Solvent Extractors Association data.
However, there was good demand for rapeseed and castorseed meal at 99,054 tonnes and 91,422 tonnes against 95,847 tonnes and 49,288 tonnes recorded in May.
Oilmeals export in the first quarter of this fiscal was down 31 per cent at 5,92,850 tonnes (8,56,686 tonnes), the association said in a statement.
Soyameal prices were down two per cent at $696 a tonne against $710 a tonne logged in May. Rapemeal prices were down at $267 ($274). The dollar depreciated against the rupee to 59.74 in June against 59.28 registered in May.
Shipments to all the major markets including South Korea, Iran and Thailand were down in the first quarter of this fiscal. Europe and Iran registered the sharpest fall of 67 per cent and 61 per cent at 36,017 tonnes (1,09,062 tonnes) and 1,02,275 tonnes (2,60,734 tonnes).
Oilmeals import by South Korea was down three per cent at 2,95,249 tonnes (3,04,745 tonnes). Exports to Thailand and Vietnam were down 21 per cent and 20 per cent at 44,192 tonnes and 29,664 tonnes, respectively.
Oilmeal exports have been under stress after China banned the import of Indian rapeseed meal in January last year due to contamination. SEA, through the Government, has taken several measures to resume trade ties with China.
A team from the Chinese Quarantine Department was in India for a week to check into rapeseed processing verifications. They also visited the port and the Export Inspection Council-approved laboratory to understand the logistics and other issues, said SEA.
The visiting officials have expressed satisfaction and readiness to sign a protocol agreement with the Export Inspection Council of India on mutually agreed terms. Once the draft is approved by the Ministry of Commerce it would be sent to China for consideration, the statement added.
“We are quite hopeful that China will lift the ban and import agriculture products from India soon,” said the SEA.
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