Oilmeal exports up 35% on higher demand

Oilmeal exports increased 35 per cent in February to 656,948 tonnes against 485,564 tonnes on the back improved demand for soyameal.

However, overall exports in the first 11 months of this fiscal was down 13 per cent at 4,335,809 tonnes (4,970,761 tonnes), due to weak demand during the major portion of this fiscal.

Soyameal prices were marked up to $530 a tonne in February against $517 registered in January even as rapeseed meal dipped to $263 a tonne ($293).

Rupee appreciated against dollar to 53.81 (54.23) in February.

Oilmeal import by South Korea between April 2012 and February 2013 was at 844,015 tonnes (717,274 tonnes) consisting of 173,568 tonnes of soyameal, 313,613 tonnes of castor meal and 356,834 tonnes of rapeseed meal.

During the corresponding period, Vietnam’s imports stood lower at 657,704 tonnes (848,230 tonnes) consisting of 408,454 tonnes of soyameal, 29,736 tonnes of rapeseed meal, 1,412 tonnes of groundnut meal, 502 tonnes of castor meal and entire quantity of 217,600 tonnes of rice bran extraction.

Iran has emerged as a new major importer by shipping in 744,733 tonnes (190,962 tonnes).

This consisted of 728,733 tonnes of soyameal and 16,000 tonnes of rapeseed meal.

Japan and Thailand imported 555,529 tonnes (1,140,597 tonnes) and 407,082 tonnes (450,344 tonnes), respectively.

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