Oilmeal exports seen at 5.5 mt

Mumbai, New Delhi: Total exports of oilmeals from the country may reach to a record level of 5.5 million tonne valued at nearly Rs 8,500 crore (FOB value) for the current financial year 2008-09, thanks to the overall good crop of major oilseeds last year supported by higher price realisation in the international markets.
So far, the overall export of oilmeals for the period April 2008 to February 2009 was reported at 5.05 million tonne against 4.58 million tonne, up by 10%. Total FOB earning is estimated at Rs 7,790 crore, according to the latest data released by Solvent Extractors' Association of India (SEA).
"I think total export of oilmeals may reach to 5.4-5.5 million tonne for FY 2008-09 due to good crop of major oilseeds and higher price realisation in the international markets. I expect export for March to reach around 4,00,000 tonne," BV Mehta, executive director, SEAI told FE.
Export of oilmeals for February 2009 was reported at 4,41,000 tonne against 7,63,000 tonne in February 2008, down by 42%. The FOB earning was Rs 790 crore.
The export jumped during the first two quarters of 2008-09 due to excellent demand and FOB realisation. However, export got stagnated in the third quarter and in last two months export declined heavily due to stagnation in production of meat and poultry worldwide following financial crisis and pronounced slowdown in economic activity affected consumer demand for livestock products, he said.
In last few months, export of oilmeals has declined sharply due to various reasons. The association has decided to step up promotional efforts to check the declining trend and planning to depute a trade delegation in second half of May 2009 to some of the key markets in South-East Asia like Cambodia, Laos and Phillipines to maintain India's share in world market and to develop a new markets for oilmeals.
Meanwhile, Indore-based traded body Soyabean Processors Association of India (SOPA) on Thursday said that the export of soymeal during February 2009 fell by more than 40% to 3,81,000 tonne against 6,40,000 tonne achieved during the same month last year.
The exports during April 2008 to February 2009 period rose to 4.2 million tonne as compared to 3.38 million tonne achieved during the same period last year, up by 24%.
“Low realisation from crushing and high cost of soymeal are main reasons for decline in exports,” Rajesh Agrawal, co-ordinator, SOPA told FE. The prices of soymeal, widely used for human consumption and poultry feed, has hit a record high at Rs 21,200 a tonne against around Rs 18,000 per tonne prevailed recently. (Source: Financial Express)