Oilmeal Exports Decline 50 pc in May

Mumbai: Oilmeals export fell in May sharply. Shipments of various oilseed extractions amounted 2.3 lakh tonnes (lt), almost half of 4.4 lt shipped out in April. Exports include mainly 1.1 lt of soyabean meal, 74,000 tonnes of rapeseed meal and 30,700 tonnes of castor meal. In the first two months of the current fiscal, oilmeal shipments aggregated 6.6 lt unchanged from the same period last year. Total exports of oilmeals during fiscal 2006-07 were a record 52 lt. In recent weeks, a firming rupee too has blunted the competitive edge of oilmeal exports. When seen on an oil year basis (November 2006 onwards), oilmeal exports totalled 38.7 lt till May compared to 35.8 lt during the first seven months of 2005-06. Soyameal remains to command the export basket with 28.3 lt followed by rapeseed meal at 6.3 lt.