Export of oilmeals from India down by 59% in August 2012

KOLKATA: The export of oilmeals during August 2012 has declined by 59% to 120,091 tons as compared to 291,466 tons in August 2011. The total export of oilmeals during April to August 2012 has reduced to 1,457,663 tons as compared to 1694,301 tons in the same period previous year.

High price of soybean seed resulted into lesser crushing and availability of soymeal for local as well as for exports, said a release issued by the Solvent Extractors' Association of India. It further said that the lack of buying by Iran and disparity in export of soybean meal due to high price in local market resulted in steep fall in exports.

Oilmeal import by South Korea from India during April to August 2012 is reported at 395,569 tons as compared to 270,206 tons last year consisting of 47,500 tons of soybean meal, 180,779 tons of casto rmeal and 167,290 tons of rapeseed meal.

Vietnam, another major market, imported 164,366 tons of as compared to 221,199 tons. The country has imported 40,075 tons of soybean meal, 11,189 tons of rapeseed meal and 502 tons of castor meal and entire quantity of 112,600 tons of rice bran extraction.

Japan imported 85,181 tons of soybean meal compared to 363,273 tons of last year. Thailand imported 102,266 tons of oilmeal as compared to 101,508 tons last year.