India's May oilmeal exports down 94% y-o-y basis: Trade body

Exports of oilmeals during May 2016 is reported at only 7,737 tons compared to 121,339 tons in May 2015 - down by 94% according to data compiled by Solvent Extractors’ Association of India.

The overall export of oilmeals during April –May 2016 is reported at 97,779 tons compared to 303,977 tons during the same period of last year, down by 68% due to lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeals in international markets.

While a tonne of soymeal costs Rs $459 in the international market, it costs nearly $490 in Indian market.

Oilmeal import by South Korea from India during April-May 2016 is reported at 47,202 tons compared to 179,569 tons - consisting 10,302 tons of rapeseed meal and 36,900 tons of castor meal. Vietnam imported 35,878 tons compared to 57,604 tons last year- consisting of 182 tons of rapeseed meal and 35,696 tons of deoiled rice bran extraction.

Taiwan imported 5,648 tons compared to 8,116 tons last year; consisting of 3,924 tons of rapeseed meal and 1,724 tons of castor meal. Myanmar imported 3,236 tons compared to 9,125 tons last year; consisting 1,612 tons of rapeseed meal and 1,624 tons of deoiled rice bran extraction.

In April – May 2016 export from Kandla is reported at 47,082 tons (48%), followed by Kolkata handled 37,852 tons (39%), Mumbai including JNPT handled 2,457 tons (3%), and Mundra handled 10,388 tons (11%).