Oilmeal exports to remain stable in FY14

KOLKATA: India's oilmeal exports are likely to remain stable in year 2013-14 despite higher oilseeds production this year. During April-November 2013, oilmeal exports stood at 2.58 million tons, around 8 per cent higher compared to 2.39 million tonne during corresponding period of last year, data from Solvent Extractors Association of India showed. In 2012-13, oilmeal exports stood at 4.84 million tons, the data showed.

Oilmeal exports are likely to be around 2 million tonne in the next four months. Last year in the corresponding period of December to March, oilmeal exports were 2.45 million tonnes.

"As per trade estimate of Central Organisation for Oil Industry & Trade (COOIT) in October, kharif output of nine major oilseeds rose by 17.2 per cent to 16.9 million tonne as compared to 15.2 million tonne in the previous year. This was mainly because of increase in crop size of Groundnuts by almost 2.0 million tonne over the previous year. Despite higher production, oilmeal exports are likely to be in the range of 4.8-5 million tonne as soybean production has been impacted due to late rains in growing regions," said Raju Choksi, Vice President (Agro-commodities), Anil Nutrients Ltd, a subsidiary of the Rs 650 crore plus agro and food processing major Anil Ltd.

During the period under consideration, soymeal exports rose 12.3 per cent to 1.56 million tonne against 1.39 million tonne in the same period last year, data from Solvent Extractors Association showed.

"Almost 65 per cent of total oilmeal exports come from soymeal. Since soybean production is expected to be revised downwards, the soymeal exports won't be a major factor contributing to growth of exports in the remaining months," Mr. Choksi said. He also informed that Indian exports have now lost advantage of exports due to high pricing as well as increased global supply from countries like Brazil and Argentina.

The sowing of oilseeds in Rabi has been done in around 7.78 million hectares as on December 12, 2013 as compared to 7.58 million hectares in the same period last year, the data from Agriculture Ministry showed.