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Rediff News  All News  » Business » Oilmeal exports decline in May

Oilmeal exports decline in May

June 07, 2007 13:12 IST

Oilmeal export declined in May sharply, according to data compiled by the Solvent Extractors' Association of India (SEA).

Shipments of various oilseed extractions totalled 2.3 Lakh Tonnes, almost half of 4.4 lt shipped out in April.

Exports comprised mainly 1.1 lt of soyabean meal, 74,000 tonnes of rapeseed meal and 30,700 tonnes of castor meal.

In the first two months of the current fiscal, oilmeal shipments aggregated 6.6 lt unchanged from the same period last year. Total exports of oilmeals during fiscal 2006-07 were a record 52 lt.

Lower oilseed output, especially groundnut, resulted in tightening raw material supplies.

In recent weeks, a firming rupee too has blunted the competitive edge of oilmeal exports.

When seen on an oil year basis (November 2006 onwards), oilmeal exports totalled 38.7 lt till May, compared to 35.8 lt during the first seven months of 2005-06.

Soyameal continues to dominate the export basket with 28.3 lt followed by rapeseed meal at 6.3 lt.

SEA officials said a slowdown in exports in the first quarter is a common phenomenon that happens almost every year. Last year too, the exports had dipped by 36 per cent at 256,300 tonnes in May and 51 per cent at 399,200 tonnes in April.




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