India’s oilmeals export has recorded a whopping 45 per cent drop at 1.42 million tonnes during April to November 2014. During the same period last year, oilmeal exports were recorded at 2.60 million tonnes, the Solvent Extractors’ Association of India (SEAI) said in a statement recently.

“Export of soybean meal greatly reduced in last seven months due to total disparity for soybean meal in international market, SEAI said while attributing the decrease in exports.

During November 2014, export of oilmeals were at 157,356 tonnes, as compared to 566,849 million tonnes, registering a 72 per cent drop, SEAI statement adds. However, SEAI said that brighter side is the share of rapeseed meal has increased from 589,509 tonnes to 765,878 tonnes in last 8 months.

Oilmeals exports to South Korea were recorded at 568,275 tonnes, as against 703,212 tonnes, posting a drop of 134,937 tonnes. Exports to South Korea consist of 315,629 tonnes of rapeseed meal, 250,902 tonnes of castor meal and 1,744 tonnes of soybean meal.

Iran imports were down to 242,291 tonnes compared to 789,031 tonnes last year consisting of 100,500 tonnes of soybean meal and 141,791 tonnes of rapeseed meal, whereas, Thailand imported 144,575 tonnes, as compared to 153,523 tonnes, consisting 140,102 tonnes of rapeseed meal and 4,473 tonnes of soybean meal during the same period last year.

Exports to Vietnam was up at 160,236 tonnes, against 115,795 tonnes recorded in the same period last year consisting of 51,865 tonnes of rapeseed meal, 9,510 tonnes of soybean meal, 791 tonnes of groundnut meal and 98,070 tonnes of rice bran extraction.

Taiwan imports were also down to 54,584 tonnes from 76,206 tonnes imported during the same period last year. Import from Europe was at 65,304 tonnes, as compared to 379,056 tonnes of last year, SEAI said.

The association said that average FOB soybean meal price sharply dropped from $569 in September 2014 to $488 in November 2014.

Source:thecropsite.com