Chennai, Feb. 5 A 50 per cent fall in soyameal exports pulled down overall oilmeal exports in January by 32 per cent compared with the same period a year ago.
According to the Solvent Extractors Association, oilmeal exports in January totalled 3.84 lakh tonnes (lt) against 5.69 lt, a year ago. Of this, soyameal shipments dropped to 2.74 lt (5.55 lt).
A drastic fall in the exports was prevented by rapid rise in shipments of rapemeal, rice bran extraction and castormeal.
Rapemeal exports touched a five-month high, while ricebran extraction shipments touched an eight-month high. In the case of castormeal, it was the highest this fiscal.
Overall oilmeal exports in April-January were 26.70 lt against 46.39 lt a year ago. Soyameal exports, according to the Soyabean Processors Association of India data, were 17.47 lt against 36.41 lt.
The Solvent Extractors Association said exports were weak due to lower crushing, disparity in prices during the last four months due to speculation in soyabean futures and depreciation of the dollar.
It said China, Vietnam, South Korea and Japan were the major importers.
Dip in demand
However, the volume of imports by countries such as Vietnam, South Korea, Japan, Thailand and Indonesia were lower compared with last year.
The value of soyameal exports dropped to $413 a tonne in January from $442 in December, while that of rapeseed slid to $260 from $262. Rice bran extraction price increased to $174 from $171, while that of castormeal was stable at $78.
Source : Business Line