Oilmeal Exports Jump 58% In June On Rising Global Demand.

Oilmeal exports rose 58 per cent in June, due to increased availability from domestic crushers and higher overseas demand.

Exports during June were 250,335 tonnes as compared to 158,750 tonnes in the corresponding month last year. The export of oilmeal during April-June doubled to 1.07 million tonnes as compared to 536,700 tonnes during the same period of the previous year.

B V Mehta, executive director of the apex trade body, the Solvent Extractors’ Association, attributed three major factors for the spurt in oilmeal exports. Sharp increase in oilseeds production to 30.25 million tonnes in the current year as compared to 24.88 million tonnes in the previous year and increased availability of oilseeds led to higher crushing and production of oil and meals for domestic use and export, and good crushing parity due to high price of oils and higher export demand.

Oilmeal is used primarily as animal feed. Rising exports indicate individual spending on animal feed is rising, a positive sign for overall recovery in the the global economy. Oilmeal exports declined when global economy was passing through a slowdown between September 2008 and June 2009.

Oilmeal import by Japan from India during April-June more than doubled to 240,808 tonnes as compared to 91,389 tonnes last year, consisting of 235,405 tonnes of soybean meal and 5,403 tonnes of rapeseed meal.

Vietnam has imported 137,010 tonnes of oilmeal so far this year, as compared to 69,939 tonnes in the same period last year consisting of 110,693 tonnes of soybean meal, 10,197 tonnes of rapeseed meal and remaining quantity being rice bran extraction.

China imported 162,060 tonnes as compared to 125,745 tonnes, comprising 156,354 tonnes of rapeseed meal, 2,288 tonnes of groundnut meal and 3,418 tonnes of soybean meal.

South Korea imported 173,064 tonnes as compared to 98,712 tonnes last year, consisting of 76,668 tonnes of castorseed meal, 94,050 tonnes of rapeseed meal and 2,346 tonnes of soybean meal.

Europe imported 43,774 tonnes compared to 738 tonnes last year.

Total shipment from Kandla was reported at 518,573 tonnes (48 per cent), followed by Mumbai including JNPT, handling 230,326 tonnes (21 per cent). Mundra handled 208,521 tonnes (19 per cent), Bedi handled 77,755 tonnes (7 per cent), Vizag handled 17,100 tonnes (2 per cent) and Kolkata handled 16,120 tonnes (1.5 per cent).

The Soybean Processors’ Association reported soybean meal exports during June to be 117,596 tonnes as compared to 95,778 tonnes in the same month of the previous year, rising 22. 8 per cent over the last year.

During current oil year, (October-September), exports during October 2010-June 2011 were 3.6 million tonnes as against 1.71 million tonnes last year, an increase of 109.3 per cent.

Source : sify.com