Agri-Business

Oilmeal exports sharply down

Soya beans. Photo: Kamal Narang

Soya beans. Photo: Kamal Narang   | Photo Credit: Kamal Narang

Exports of oilmeal declined sharply by 86 per cent to 18,410 tonnes in July 2015 from 1.32 lakh tonnes in the same period of the previous year. The decline was mainly due to a record fall in shipment of soyameal, according to industry body Solvent Extractors’ Association. High prices of soyabean resulted in a sharp drop in crushing of oilseeds by mills. Also, South Asian countries reduced their purchases. Exports of soybean meal stood at 18,017 tonnes in April; 14,046 tonnes in May; 2,098 tonnes in June; and just 928 tonnes in July 2015.

“The capacity utilisation is at the lowest, and many plants are closing down due to disparity in crushing and exports,” the association said.

During April-July, exports of oilmeals declined by 35 per cent to 4.92 lakh tonnes from 7.58 lakh tonnes in the corresponding period last year. South Korea is a major importer of Indian oilmeals. During April-July 2015, South Korea imported 3.06 lakh tonnes of oilmeals, Thailand 13,558 tonnes, Vietnam 95,972 tonnes and Taiwan 19,671 tonnes. Iran imported 9,050 tonnes of oilmeals during April-July 2015, a decline of 92 per cent, as compared to 1.12 lakh tonnes last year. Exports of rapeseed meal fell 90 per cent to 8,645 tonnes. Soymeal shipments dropped 86 per cent to a record low of 928 tonnes, the association said.



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Printable version | Feb 21, 2020 4:07:32 PM | https://www.thehindu.com/business/agri-business/oilmeal-exports-sharply-down/article7519859.ece

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