India’s oilmeal exports decline almost 10% in Nov
The Dollar Business Bureau
India’s oilmeal exports declined 9.75% to 108,342 tonnes last month on sluggish global demand, Oil industry body Solvent Extractors' Association (SEA) said.
The country’s oilmeal exports in November last year stood at 120,059 tonnes, according to the SEA data.
During April-November of the current fiscal, exports of oilmeal fell 27% to 662,489 tonnes from 903,624 tonnes during the same period of last year.
The decline in exports was largely due to "lesser availability of oilseeds for crushing and continuous disparity in exporting soyabean meal in international market," SEA said.
Last month, the outbound shipments of rapeseed meal decreased to 12,304 tonnes from 12,845 tonnes in November last year, while extraction of rice bran too reduced to 2,371 tonnes from 12,528 tonnes in the year-ago period.
Castor seed meal export nosedived almost 50% to 41,451 tonnes from 82,777 tonnes during the period.
The exports of soyabean meal, however, rocketed 51,805 tonnes in November 2016 as against 8,909 tonnes seen in the same month last year. India also exported about 411 tonnes of groundnut meal in November this year.
South Korea and Vietnam were the two top destinations for oilmeal export from India.
South Korea imported 425,324 tonnes of oilmeal - consisting of 147,167 tonnes of rapeseed meal and 278,157 tons of castor meal - during April-November 2016, as against 576,582 tonnes during the same period of last year.
Vietnam imported 117,744 tonnes of oilmeals this year compared to 186,636 tonnes last year.
Kandla Port handled 452,729 tonnes (68%) of exports, followed by Kolkata at 124,393 tons (19%), Mumbai including JNPT at 40,966 tonnes (6%), and Mundra at 43,601 tonnes (7%).