March 11, 2015

India sees 43% decline in oilmeal exports during Apr 2014-Feb 2015

At 2.22 million tonnes, India's oilmeal exports, including soybean and rapeseed, have suffered a 43% decline during the period of April 2014 to February 2015, according to the Solvent Extractors' Association of India (SEAI).

Exports previously recorded at 3.93 million tonnes during April 2013 to February 2014.

SEAI blamed the slump on a "total disparity for soybean in the international market". Still, the association expressed optimism for rapeseed meal which has seen its share rise to one million tonnes from 820,885 tonnes in the last 11 months.

In the meantime, the average FOB for soybean meal price fell significantly, from US$569 in September 2014 to US$458 in February 2015.

In the period of April 2014 to February 2015, contribution from soybean meal was 613,676 tonnes, a drop from the 2.55 million tonnes recorded in the same period of last year.