• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

Soyabean extraction, which usually constitutes almost 50 per cent of the aggregate oilmeal shipment from the country, has been the worst hit with exports falling 47 per cent to a low of 13.3 lalh tonnes.

MUMBAI, April 10

OILMEAL exports, which have been on a declining trend since 1998-99, hit a new low during the 2002-03 fiscal, down a 37 per cent from the previous year caused by a setback to domestic oilseed crop.

Export data compiled by the Solvent Extractors' Association of India (SEA) showed oilmeal shipments totalled 18.96 lakh tonnes (l.t) last fiscal, down from a modest 30.2 l.t. previous year.

Soyabean extraction, which usually constitutes almost 50 per cent of the aggregate oilmeal shipment from the country, was the worst hit with exports falling 47 per cent to a low of 13.3 l.t. (29.1 l.t.).

Not only was soyabean output down 20 per cent, crushing margins were poor as soyabean prices had shot up over Rs 4,000 a tonne to Rs 15,500 a ton, SEA said.

It added that there was tough competition from China, especially in India's traditional markets in the Far East, apart from increased competition from South American origin. Meal demand within the country has been rising too.

All these combined to press export volumes down during the year.

Groundnut meal exports too became a casualty of drought-reduced output.

Export of groundnut extraction declined precipitously to a just 15,225 tonnes, from a very modest 1.01 l.t. previous year.

Rapeseed meal export provided the only silver lining. Shipments aggregated 4.55 l.t. in 2002-03, up from 3.13 l.t. in the previous year.

Expanded crushing to benefit from higher oil prices and attractive discount over soyameal in the export market resulted in higher movement to overseas destinations, SEA said.

Castor meal, exported mainly to Taiwan and Korea for use as organic fertiliser, remained unchanged in volume terms at about 92,000 tonnes.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Escorts gets into contract farming

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line