MUMBAI (Commoditiescontrol) – India's exports of soymeal stood at 4,238 tonnes during October, 2015 as compared to 29,690 tonnes in October, 2014 showing a significant decline of 85.72 per cent over the same period a year ago. Increased crushing disparity has resulted into lower production, pulling exports to historicals lows.
In a report released by Indore based industry body - the Soybean Processors Association of India (SOPA), the country's exports of soymeal during April’ 2015 to October’ 2015 stood at 46,983 tonnes as compared to 1,26,550 tonnes during the same period a year ago. This implies a substantial drop of around 63 per cent of exports.
Export of total oilmeals have dropped 29 per cent from a year ago period due to reduced crushing parity and high price prevailing in the domestic market. This has highly affected the availability of both oils and meals in domestic markets.
Capacity utilization is at the lowest and many plants have discountinued their operations due to disparity in crushing and lower exports. Further, major importers of oilmeals, Thailand, Taiwan, Japan and Myanmar have recorded steep decline during the six monthly period of April-September, 2015 compared to same period a year ago.
On the other hand, South Korea, Vietnam and Oman have shown rise in imports, having a wide range of diversity, from 0.68 per cent to as high as almost 75 per cent.
In news, the total crushing avalalability of soybean meal for FY2015-16 is estimated at around 54-55 lakh tonnes, as against the net avalability of 66-68 lakh tonnes.
Moving further, exports from all major ports have also taken a downturn. Except for Kolkata port, all others have recorded steep decline. These include Kandla, Mumbai JNPT and Mundra ports, to name a few.
(By Commoditiescontrol Bureau; +91-22-61391523)
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