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Oilmeal exports almost double in July.

Date: 06-08-2016
Subject: Oilmeal exports almost double in July
New Delhi, Aug 5 (PTI) Countrys oilmeal exports almost doubled to 87,944 tonnes in July on higher shipment of castorseed meal to South Korea, industry body SEA said today.

However, oilmeal export during April-July period of this fiscal fell 47 per cent to 2,74,237 tonnes compared to 5,17,914 tonnes in the year-ago period.

The country had shipped 44,238 tonnes of oilmeal, used as animal feed, in July last year.

Mumbai-based Solvent Extractors Association of India (SEA) attributed fall in oilmeal export during the April-July period to "lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeal in international market".

As per the SEA data, the country exported 78,759 tonnes of castorseed meal, especially to South Korea, in July this year, which is a significant jump from 887 tonnes in the year-ago period.

Similarly, the shipment of soyabean meal increased sharply to 3,290 tonnes from 928 tonnes in the review period.

But the export of rapeseed meal declined to 4,197 tonnes in July this year from 8,647 tonnes in the year-ago period. Ricebran extraction shipments too dropped sharply to 1,500 tonnes from 33,628 tonnes in the said period.

Out of the total exports undertaken in July, a maximum of 78,000 tonnes of oilmeal was shipped to South Korea, followed by Thailand at 1,329 tonnes and Vietnam at 2,397 tonnes.

South Korea and Vietnam are the top two destinations for export of oilmeal for India.

Source : indiatoday.intoday.in

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