Oilmeals Exports Plunge 55% In Oct: SEA

Published date: .

The export of oilmeals in October 2019 has dropped by 55 per cent to 105,085 tons as compared to 233,867 tons in October, 2018, according to figures released the Solvent Extractors' Association of India (

SEA

).

The overall export of oilmeals during April-October, 2019 is reported at 1,392,564 tons compared to 1,732,916 tons in the same period last year, down by 24 per cent. This is mainly due to disparity in export of oilmeals, specifically soybean meal due to higher MSP of beans which makse the domestic soybean meal expensive in international market compared to other origins.

During April-October 2019 Vietnam imported 192,440 tons of oilmeals (compared to 338,292 tons) consisting of 3,668 tons of soybean meal, 124,590 tons of rapeseed meal and 64,182 tons of de-oiled rice bran extraction.

South Korea imported 557,510 tons of oilmeals (compared to 472,935 tons) consisting 27,326 tons of soybean meal, 253,523 tons of rapeseed meal and 276,661 tons of castorseed meal. Thailand imported 130,715 tons of oilmeals (compared to 198,798 tons) consisting of 111,367 tons of rapeseed meal, 17,581 tons of Rice Bran Extractions and 1,767 tons of soybean meal

The SEA release added that export from Kandla is reported at 518,525 tons (37 per cent), followed by Mundra handled 450,064 tons (32 per cent), and Mumbai including JNPT handled 98,394 tons (7 per cent) and Kolkata handled 89,833 tons (6 per cent) and other ports handled 235,748 tons (17 per cent).