India's June oilmeal exports down by 48%.

NEW DELHI: Oilmeal exports fell by 48 per cent to 88,514 tonnes last month due to tight local supply of oilseeds and continuous price disparity in the global market, industry body SEA said today.

The country had shipped 1,69,699 tonnes of oilmeal, used as an animal feed, in June last year.

Even during the April-June quarter of current fiscal, the overall export of oilmeals declined by 61 per cent to 1,86,293 tonnes compared to 4,73,676 tonnes in the year-ago period, the Mumbai-based SEA said in a statement.

According to the Solvent Extractors Association of India, the fall in exports was mainly "due to lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeals in international market".

As per the SEA data, export of ricebran extraction fell significantly to 1,500 tonnes in June this year from 34,328 tonnes in the year-ago period.

Similarly, castorseed meal shipments declined to 40,591 tonnes from 77,134 tonnes, while rapeseed meal exports dropped to 43,636 tonnes from 56,139 tonnes in the said period.

However, the export of soyabean meal rose marginally to 2,672 tonnes in June from 2,098 tonnes in the year-ago.

Out of the total exports, a maximum of 76,775 tonnes of oilmeal was shipped to South Korea in June, followed by Vietnam at 4,158 tonnes, Indonesia at 2,070 tonnes and Thailand at 1,595 tonnes.

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

Source : economictimes.indiatimes.com