MUMBAI (Commoditiescontrol) – Export of oilmeals have declined for the period April-December, by around 48 per cent, as per reports released by the Solvent Extractors' Association (SEA) showed today. In addition, exports for the month of December exclusively, dropped almost 85 per cent, to 59,818 tonnes, as against 410,178 tonnes, exported during the same period a year ago.
April-December, 2015 total oilmeal exports touch a record-low of 963,442 tonnes, as against 1,862,283 tonnes, exported during the same period last year and 3,202,981 tonnes during the same period in 2013-14.
The export of soybean meal is at a historical low during current year and reported 61,556 tons during the first nine months of the financial year 2015-16 compared to 444,736 tons in the previous year 2014-15 and 2,010,788 tons during the same period of 2013-14.
The export of soybean meal during the month of December eased to 5,667 tonnes compared with 8,909 a month ago.
Currently FOB/FAS Indian soybean meal is quoted at US$ 490 per ton against Argentina origin soybean meal CIF Rotterdam at US$ 331 per ton. Indian soybean meal is nearly out priced by US$ 160 per ton in international market.
Higher crushing disparity has led to low yield of soybean meal, affecting domestic availability of both oil and meal. Further to that, local soybean meal is priced at a premium, as compared to international prices, further reducing demand for domestic soymeal. Hence, soy meal producing industries are affected at large. Many plants have closed down owing to minimum capacity utilization.
In addition, rapeseed meal export has also witnessed a drop of around 1/3rd from last year. The total rapeseed meal export during April-December was 312,148 lakh tonnes versus 895,585 lakh tonnes corresponding period previous year. However December export was positive at 16,855 tonnes as against 12,845 tonnes in November 2015.
The declining trend of Indian oilseeds production and crushing are going along with booming import demand for vegetable oils and have brought oilmeal exports from India almost to a halt.
The Association has pleaded before the Central Government for reducing the import duty to 5-10% from the current 30% on high oil content oilseeds like rapeseed/mustard(canola) and sunflower seed. This will have a multitude of advantages viz. reduce import of edible oils, larger availability of oilmeals for local consumption by feed industry and export.
(By commoditiescontrol Bureau; - +91224001533)
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