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India's October Oilmeal Exports Down 55% YoY To 105,085 Tonnes

9 Nov 2019 12:44 pm
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NEW DELHI (Commoditiescontrol) - The country's oilmeal exports fell by 55 percent to 105,085 tonnes in October from 233,867 tonnes during the same month a year ago, an industry body has said.

The oilmeal exports were at 141,184 tonnes in September.

The overall export of oilmeals during April-October 2019, reported at 1,392,564 tonnes, down 24 percent from 1,732,916 tonnes in April-October 2018, the Solvent Extractors' Association of India (SEA) said in a statement.

"This is mainly due to disparity in export of meals, specifically soybean meal due to higher MSP of beans. This made the domestic oilmeal expensive in international market compared to other origins," the SEA said.

As per the SEA data, in the seven months of this fiscal, soyabean meal exports dropped to 388,641 tonnes from 567,545 tonnes in the year-ago period.

Similarly, the shipment of rapeseed meal exports fell to 555,354 tonnes from 689,812 tonnes, while that of rice bran extraction declined to 103,242 tonnes from 240,457 tonnes in the same period last year. Groundnut meal export also fell sharply to 586 tonnes from 6,507 tonnes in the said period.

However, castorseed meal exports rose to 344,741 tonnes in April-October this year, mainly exported to South Korea, compared to 228,595 tonnes in the year-ago period.

South Korea, France, Vietnam, Thailand and Taiwan remained major export destinations for oilmeal exports.

(By Commoditiescontrol Bureau)

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