Oilmeal export from India has reported a sharp decline of about 53 per cent for the month of February 2014 against the same month last year. The drop in the oil meal exports is attributed to the disparity in soybean crushing, which led to lower processing of soybean and availability of soybean meal for export.
The data compiled by the Solvent Extractors’ Association of India (SEA) showed that export of oilmeals for the month of February, 2014 was 307,260 tonnes against 659,101 tonnes in February, 2013.
Out of 307,260 tonnes of total oilmeal exports reported during the month, soybeam meal was 183,550 tonnes, while 82,294 tonnes was rapeseed meal.
For the period April 2013 to February 2014 is reported at 3,933,664 tonnes compared to 4,415,606 tonnes during the same period of last year down by 11 per cent.
SEA further noted that exports of oilmeals to countries like Vietnam, Japan, Thailand and Indonesia have dropped significantly during the period April-February. Oilmeal exports to Vietnam have dropped by 69 per cent against the same period last year, the same has dropped by 60 per cent to Japan and 48 per cent to Indonesia.
However, the data showed that Europe has turned out to be a bigger market for Indian Non-GMO Soybean Meal. Oilmeal exports to Europe have increased by 16 per cent on year-on-year basis during April-February period. Iran has emerged as a major market for us.
Source:- thehindubusinessline.com
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