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Export of oilmeals down by 22% in December 2017 over December 2016

Export of oilmeals down by 22% in December 2017 over December 2016
Capital Market
Last Updated at January 6, 2018 10:31 IST

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The export of oilmeals during December 2017 is provisionally reported at 236,000 tons compared to 301,556 tons in December 2016 i.e. down by 22%, as per the data compiled by The Solvent Extractors' Association of India . The overall export of oilmeals during April - December 2017 provisionally reported at 2,090,468 tons compared to 1,169,914 tons during the same period of last year.
On 17th November 2017, Government raised the import duty on edible oils by 12.5 to 15% across the board and increased MEIS on soybean meal to 7% from 5%. These steps has made Indian oilmeal more competitive in the world market and may result in to larger export of oilmeals during current year.
Secondly, after two difficult years, export of oilmeals has revived in the current year, but still lower than earlier years, when India used to export annually over 40 to 45 lakh tons of oilmeals.

South Korea, Vietnam, Thailand, Germany & Europe - Major Importers of Oilmeals:- During April - December 2017 oilmeal imported by Vietnam from India reported at 331,654 tons compared to 209,476 tons; consisting of 23,157 tons of soybean meal, 54,922 tons of rapeseed meal and 253,575 tons of De-oiled Rice Bran Extraction. South Korea imported 597,252 tons compared to 460,764 tons; consisting 209,890 tons of rapeseed meal, 362,147 tons of castor meal and 25,215 tons of soybean meal. Bangladesh imported 120,675 tons compared to 132,588 tons; consisting 26,037 tons of rapeseed meal, 5,857 tons of De-oiled Rice Bran Extractions and 88,781 tons of soybean meal. Thailand imported 134,612 tons compared to 9,201 tons; consisting 96,358 tons of rapeseed meal, 9,454 tons of De-oiled Rice Bran Extractions and 28,765 tons of soybean meal. European countries were the major importer of Indian Soybean Meal. France imported 100,375 tons compared to 90,208 tons; consisting 95,710 tons of soybean meal and 4,665 tons of Castor meal and rest of European countries imported 329,340 tons of oilmeals, mainly soybean meal.
Port-wise Export : April - Dec. 2017 The export from Kandla is reported at 1,159,163 tons (55%), followed by Mumbai including JNPT handled 296,430 tons (14%), Mundra handled 171,255 tons (8%) and Kolkata handled 271,064 tons (13%) and others ports handled 192,556 tons (9%)