Oilmeal exports fall 13 per cent in FY 13
Updated: Apr 06, 2013 01:14:26pm
New Delhi, Apr 6 (KNN) India's oilmeal exports fell by 13 per cent in 2012-13 fiscal compared to the previous year owing to a sharp drop in demand, as well as competition from China and Argentina.
Oilmeal exports during the current year amounted to 4,846,013 tonnes compared to 5,599,098 tonnes during the same period of last year, according to an official statement.
However, in terms of value it increased by 40 per cent to Rs 11,806 crore as the rupee depreciated about eight per cent in the last one year.
Oilmeal export was down 32 per cent in March at 430,407 tonnes against 628,337 tonnes in the same period last year, according to the industry body Solvent Extractors’ Association (SEA).
In March, major importing countries such as Japan, Vietnam, Thailand and Indonesia preferred China and Argentina as they offered better price compared to Indian exporters.
"The overall export in terms of quantity reduced by 7.5 lakh tones to 48.46 lakh tones from 55.99 lakh tonnes," the Mumbai-based SEA said.
Exports to Japan, Vietnam, Thailand and Indonesia drastically reduced due to "disparity in exports in these regions against severe competition from other origins including China and Argentina," it said.
Lack of buying by China since January last year has affected overall oil meal exports. Rapeseed meal exports were reduced by 4.5 lakh tonnes from 12.5 lakh tonnes registered during the previous year.
However, SEA said that shipments to West Asia and African countries doubled to 12.2 lakh tones from 6.1 lakh tones in the review period because of huge buying from Iran and also substantial increase by Turkey.
France also turned out to be a big importer of soybean meal, on account of lower supply from others, it added.
The total quantity of oil meal exported to SAARC countries including Bangladesh, Pakistan and Nepal via road and rail route has been estimated at around 6 lakh tonnes during 2012-13.
A consignment of about six lakh tonnes was moved to neighbouring Bangladesh, Pakistan and Nepal by road and rail last fiscal, said SEA. (KNN)
Oilmeal exports during the current year amounted to 4,846,013 tonnes compared to 5,599,098 tonnes during the same period of last year, according to an official statement.
However, in terms of value it increased by 40 per cent to Rs 11,806 crore as the rupee depreciated about eight per cent in the last one year.
Oilmeal export was down 32 per cent in March at 430,407 tonnes against 628,337 tonnes in the same period last year, according to the industry body Solvent Extractors’ Association (SEA).
In March, major importing countries such as Japan, Vietnam, Thailand and Indonesia preferred China and Argentina as they offered better price compared to Indian exporters.
"The overall export in terms of quantity reduced by 7.5 lakh tones to 48.46 lakh tones from 55.99 lakh tonnes," the Mumbai-based SEA said.
Exports to Japan, Vietnam, Thailand and Indonesia drastically reduced due to "disparity in exports in these regions against severe competition from other origins including China and Argentina," it said.
Lack of buying by China since January last year has affected overall oil meal exports. Rapeseed meal exports were reduced by 4.5 lakh tonnes from 12.5 lakh tonnes registered during the previous year.
However, SEA said that shipments to West Asia and African countries doubled to 12.2 lakh tones from 6.1 lakh tones in the review period because of huge buying from Iran and also substantial increase by Turkey.
France also turned out to be a big importer of soybean meal, on account of lower supply from others, it added.
The total quantity of oil meal exported to SAARC countries including Bangladesh, Pakistan and Nepal via road and rail route has been estimated at around 6 lakh tonnes during 2012-13.
A consignment of about six lakh tonnes was moved to neighbouring Bangladesh, Pakistan and Nepal by road and rail last fiscal, said SEA. (KNN)
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