Sunday , January 24 2021
Breaking News
Home / International Customs / India / Indian soyameal exports decline 22% during first 8 months of 2015
Indian soyameal exports decline 22% during first 8 months of 2015

Indian soyameal exports decline 22% during first 8 months of 2015

PUNE: Indian soyameal exports declined to 22% during the first 8 months of the current financial year as compared to similar period of previous year thanks to Japan, a big importer of Indian soyameal shifting to GM soyameal, lifting of sanctions on Iran and stiff competition from other countries.

According to the Solvent Extractors’ Association of India, “The export of soybean meal is at a historical low during current year and reported 55,889 tonnes during the first eight months of the financial year 2015-16 compared to 250,904 tonnes in the previous year.”

The export of oilmeals during November 2015 is reported at 112,081 tonnes compared to 189,032 tonnes in November 2014, down by 41%. The overall export of oilmeals during April-November 2015 too is reduced by 38% compared to last year and reported at 895,646 tonnes compared to 1,452,105 tonnes during the same period of last year and 2,602,966 tonnes for the period April-Nov.,2013.

“Soybean crushing is very much reduced due to continuous disparity and high price of domestic market affecting overall domestic availability of both oils and meals. Similarly rapeseed meal export is also reduced to one third of last year,” stated an SEA release.

It added, “The capacity utilisation is at the lowest. Industry is passing through very tough time and many plants are close down or operating at very low capacity due to disparity in crushing and export.” In the wake of lifting sanctions, Iran shifted soybean meal buying from India to another origins. Currently India is out priced by US$ 100 against other origins in Iranian market.

The export to Japan, Iran, Thailand, Indonesia, Taiwan and Vietnam reduced considerably due to disparity in export in these regions against severe competition from other origins including China and Argentina. India lost Vietnam market for soybean meal due to stiff competition from other origins and increased availability from domestic crushing of imported soybean.