Export of oil meals between April - October 2012 down by 30%

The Solvent Extractors’ Association of India has just compiled the export data for export of oil meals for the month of October 2012. The export of oil meals during October 2012 is reported at 121,919 tonnes compared to 354,698 tonnes in October 2011 i.e. down by 66%. The total export of oil meals during April to October 2012 has reduced and reported at 1,724,984 tonnes compared to 2,451,499 tonnes during the same period of last year i.e. down by 30%. High price of soybean seed resulted into lesser crushing and availability of soybean meal for local as well as for the export. Lack of buying by Iran and disparity in export of soybean meal due to high price in local market resulted into steep fall in its exports.

South Korea – Highest Importer of Oil meals from India:

Oil meal import by South Korea from India during April to Oct., 2012 is reported at 492,286 tonnes compared to 378,746 tonnes last year consisting of 55,202 tonnes of soybean meal, castor meal of 203,722 tonnes and 233,362 tonnes of rapeseed meal. Vietnam another major market, imported of 228,488 tonnes compared to 314,727 tonnes last year consisting of 47,685 tonnes of soybean meal, 27,889 tonnes of rapeseed meal, 1,412 tonnes of groundnut meal, 502 tonnes of castor meal and entire quantity of 151,000 tonnes of rice bran extraction. Japan imported 106,923 tonnes compared to 615,377 tonnes of last year consisting of 106,545 tonnes of soybean meal, 279 tonnes of rapeseed meal and 99 tonnes of castor meal.

Thailand imported of 121,914 tonnes compared to 161,238 tonnes, consisting 61,334 tonnes of soybean meal, 60,491 tonnes of rapeseed meal and small quantity of 89 tonnes of Castor meal. Indonesia imported 104,064 tonnes compared to 128,591 tonnes consisting of 74,813 tonnes of rapeseed meal and 29,251 tonnes of soybean meal. Iran imported of 456,687 tonnes compared to 175,962 tonnes, consisting 440,687 tonnes of soybean meal, and 16,000 tonnes of rapeseed meal. Europe and others have imported 31,326 tonnes compared to 49,833 tonnes of last year.

Port-wise Export: April-Oct., 2012

The export from Kandla is reported at 1,173,079 tonnes (68%), followed by Mumbai including JNPT handled 189,838 tonnes (11%), Mundra handled 113,189 tonnes (7%),Bedi handled 79,290 tonnes (5%) ,Kolkata handled 151,000 tonnes (9%) and Vizag handled 10,243 tonnes (1%).

Oilmeal exports down in April-September as soya meal turns dearer

The Solvent Extractors’ Association of India has just compiled the export data for export of oil meals for the month of September 2012. The export of oil meals during September 2012 is reported at 143,990 tonnes compared to 402,500 tonnes in September 2011 i.e. down by 64%. The total export of oil meals during April to September 2012 has reduced and reported at 1,603,065 tonnes compared to 2,096,801 tonnes during the same period of last year i.e. down by 24%. High price of soybean seed resulted into lesser crushing and availability of soybean meal for local as well as for the export. Lack of buying by Iran and disparity in export of soybean meal due to high price in local market resulted into steep fall in its exports. The slump was largely due to a 97 per cent drop in soya meal shipments and a 63 per cent decline in castor seed extracts.

Edible oil extractors had cut down production due to high soya bean prices. This has resulted in lower soya bean meal availability and pushed up prices in the domestic markets. With higher realization in domestic markets, there was very little interest on exports of soya meal extracts. However, the export of rice bran extracts increased by 48 per cent in September to 23,400 tonnes.

Lack of buying interest by traders in Iran and other countries also pulled down exports in September, said a press release issued on Friday by Solvent Extractors’ Association of India.Interestingly, Iran has emerged as the largest buyer of Indian soya meal extracts in the first six months of the current fiscal accounting for more than half of Indian exports. Iran imported 4.4 lakh tonnes of the total soya meal exports of 8.22 lakh tonnes in the April-September period. The recent bilateral payment mechanism that allows importers in Iran to make payments in Indian rupees has aided the soya meal shipments.

For the April-September period, Iran imported a total of 4.57 lakh tonnes of Indian oil meals compared to 1.5 lakh tonnes in the corresponding period last year. The drop in export demand pulled down soya meal prices to $668 a tonnes in September against $760 realized in August.

Rapeseed meal was also quoted lower at $325 a tonnes against $343 a tonnes in August. The appreciation in value of rupee against dollar to Rs 54.35 in September against Rs 55.49 in August also discouraged exports.

Demand from South Korea was down seven per cent at 63,734 tonnes (68,540 tonnes) in September. However, South Korea has replaced Japan as the largest buyer of Indian oil meal extracts in the first half of the current fiscal. South Korea imported a total of 4.59 lakh tonnes of oil meal extracts against 3.38 lakh tonnes in the corresponding period last year.

Japan, which had imported close to five lakh tonnes of Indian oil meals in first half of 2011-12, bought only 85,181 tonnes so far this year.

Rajesh Agarwal, spokesperson for Soya bean Processors Association of India, attributed the slump in exports to high prices. Buyers had preferred to wait-and-watch the prices mainly due to the concern over output in the US, he said.

During September, Thailand more than halved its imports to 17,330 tonnes from 36,032 tonnes, while that of Indonesia fell 75 per cent to 2,580 tonnes from 10,228 tonnes. Vietnam was the only country which increased its order to 40,100 tonnes from 27,924 tonnes.