Increase of 130 Percent in Oil Meal Export of India in the Month of December

Increase of 130 Percent in Oil Meal Export of India in the Month of December

Oil meal, which is exported from India, was doubled in the month of December 2016 because of the high demand of non-genetically modified soybean meal from the place France, according to Association of Solvent Extractors.

Last year in the month of December, the country exports totaled up to 1,94,309 tons. That’s an increase of 130 percent from the last year 2015, which was of 84,218 tons.

It is reported that the total tons of oil meal which was imported from France was of 1,06,708 tons when compared to last year which was 1,956 tons. This includes both soybean meal of 1,03,650 tons and castor meal of 3,058 tons.

Even Japan had a huge jump when it comes to imports. When compared to last year, it was 6,500 tons and this year they recorded as 54,833 tons. This total number of tons includes both soybean of 50,632 tons, rapeseed meal of 3,773 tons and castor oil of 428 tons. On monthly basis, soybean meal export has jumped 51,805 to 1,60,949 tons from the month of November 2016.

 

But still, the complete export of oil meals during the months April – December 2016 was down from 13 percent at 8,56,798 tons when compared to 9,87,842 tons of last year during the same period. And the reason behind the fall of this oil meal is mainly because of the lesser availability of oilseeds used for crushing and a constant gap in exporting the soybean meal in the international market.

Major importers of oil meals are India and South Korea. During the months April – December, there was a downside of import from 6,16,691 tons to 4,52,099 tons in the last year. In the same way, other countries, which also import oil meals, are – Vietnam, which experienced a decline from 2,14,028 tons to 1,20,294 in the last year.

Kandla is exporting nearly 578,429 tons, which is 68 percent. Kolkata is lonely handling export of 15 percent, which is of 126,643 tons. And the city Mumbai along with JNPT handles export of soybean of 9 percent, which is 75,490 tons and Mundra is handling export of 8 per cent, which means it is somewhere close to 74,636 tons.

In the meantime, an association with seven delegates is going to visit the place Argentina in the month January from Jan. 8 to 16 so that they can clearly study and examine the soybean complex of Argentina and also to study various other procedure of processing, production, exporting and soybean’s supply system. In general, Argentina exports soybean oil of approximately 3-million tones every year only to India, which is around 80 percent of the soybean oil is imported by India.

 

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