Financial Daily from THE HINDU group of publications
Friday, Feb 07, 2003
Financial Daily from THE HINDU group of publications Friday, Feb 07, 2003 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Oilmeal exports fall steeply G. Chandrashekhar
MUMBAI, Feb. 6 DESPITE a marked improvement in shipment volume in January 2003 as compared with the previous month, export of oilmeals in the first 10 months of the current fiscal has declined by 30 per cent, with soyameal falling by as much as 40 per cent. According to data compiled by the Solvent Extractors' Association of India (SEA), export of extractions aggregated 3.78 lakh tonnes in January 2003, up from 2.70 lt during the previous month. In January 2002, such shipments had totalled 4.1 lt. Between April 2002 and January 2003, exports aggregated 15.1 lt, down from 21.0 lt of the same period previous year. Export of soyameal, which usually dominates the export basket is the worst hit with shipment of 10.1 lt so far this year, down from 17.2 lt of the same period last year. Amongst other extractions this year, rapeseed meal accounted for 3.1 lt (2.3 lt), castormeal 63,970 tonnes (87,607 tonnes) and groundnutmeal 15,225 tonnes (63,251 tonnes). At this rate exports for the financial year will barely cross 20 lt, apprehended the representative of a trading house. In 2001-02, India's oilmeal shipments totalled 30.2 lt, reversing a steadily declining trend since 1997-98. Tightening availability of raw material (oilseeds) for crushing and high prices are cited as the reason for the fall in meal exports. Oilseeds production in 2002-03 is expected to decline to a low level of 170 lt (210 lt) in the wake of drought conditions in different parts of the country. Drought has also meant that domestic demand for oilmeals as animal feed is expanding, leaving limited quantity of surplus for export. With soyabean prices going through the roof — upwards of Rs 13,000 a tonne as compared with the minimum support price of Rs 8,850 a tonne — soyameal exports have become unviable. Amongst ports, Kandla handled around 7.66 lt (11.35 lt), Bedi at Jamnagar 3.80 lt (4.68 lt) and Mumbai 2.42 lt (2.55 lt) of oilmeal shipments so far this year.
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