The exports of oilmeal fell sharply by over 53% and stood at 3.07 lakh tonnes (LT) in February this year, as per report compiled by Solvent Extractors Association (SEA). This decline was due to tough competition from Vietnam and other countries and increased availability from domestic crushing. About 6.59 LT of oilmeal, used as animal feed, was shipped in the same month last year.
Of the total 3.07 LT of export in February this year, the maximum shipments were soyabean meal at 1.83 LT, followed by rapeseed meal at 82,294 tonnes, castorseed meal at 39,816 tonnes and rice bran extraction at 1,500 tonnes in February this year.
The oilmeal exports to Vietnam fell sharply to 18,318 tonnes in February this year from 1.18 LT in the same period last year while the shipments to Oman declined to 64,487 tonnes from 1.89 LT, while exports to Japan fell to 2,407 tonnes from 92,307 tonnes in the review period. Similarly, oilmeal exports to Thailand too declined sharply to 3,593 tonnes in February this year, from 11,854 tonnes in the same month corresponding year.
On the other hand, exports to South Korea improved to 1.27 LT from 78,380 tonnes, while shipments to Kuwait rose to 15,250 tonnes from 7,297 tonnes in the same period.