NEW DELHI: Oilmeals exports fell by 74 per cent to 53,866 tonnes last month due to a sharp fall in soyabean and rapeseed meal shipments, industry body SEA said today.
The country had shipped 2,08,436 tonnes of oilmeals, used as animal feed, in the same period last year.
The overall export of oilmeals during the April-February period of this fiscal fell 52 per cent to 10.92 lakh tonnes, against 22.56 lakh tonnes in the previous year, Solvent Extractors Association (SEA) said in a statement.
"The export of soyabean meal is at a historical low... Soyabean crushing is very much reduced due to continuous disparity and high price of domestic market affecting overall domestic availability of both oils and meals. The capacity utilisation is at the lowest," Mumbai-based SEA said.
The industry is passing through a very "tough and rough time" and many plants have been closed down or operating at very low capacity due to disparity in crushing and export, it said.
Currently, Indian soyabean meal is quoted at USD 480 per tonne on Freight on Board (FOB) against Argentina origin soyabean meal at USD 321 per tonne. "Indian soyabean meal is totally outpriced by about USD 160 per tonne in international market," the industry body said.
As per the SEA data, soyabean exports declined to 1,127 tonnes in February this year, from 64,514 tonnes in the year-ago period.
Similarly, rapeseed meal exports dropped to 9,803 tonnes from 62,545 tonnes, while that of ricebran extraction declined to 2,000 tonnes from 29,820 tonnes in the said period.
Export of castorseed meal also declined to 40,440 tonnes in February this year from 51,494 tonnes in the year-ago period, the data showed.
India exports oilmeals to countries including South Korea, Vietnam, Thailand, Taiwan, Indonesia, Oman and Myanmar.
Source :economictimes.indiatimes.com
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