Oilmeal exports fell by 9.75 percent to 1,08,342 tonnes in November this year on sluggish demand, industry body SEA said today.
The country had shipped 1,20,059 tonnes of oilmeal -- used as an animal feed -- in November last year.
During April-November of the 2016-17 fiscal, oilmeal exports fell 27 percent to 6,62,489 tonnes from 9,03,624 tonnes in the year-ago period, according to the latest data released by the Solvent Extractors Association of India (SEA).
The fall was mainly due to "lesser availability of oilseeds for crushing and continuous disparity in exporting soyabean meal in international market," it said.
In November 2016, rapeseed meal export fell to 12,304 tonnes from 12,845 tonnes in the year-ago period, while rice bran extraction declined to 2,371 from 12,528 tonnes in the said period.
Similarly, castor seed meal export almost halved to 41,451 tonnes from 82,777 tonnes in the said period, Mumbai-based SEA said in a statement.
However, the export of soyabean meal rose to 51,805 tonnes in November this year from 8,909 tonnes in the year-ago period. The country also exported about 411 tonnes of groundnut meal during the said period.
South Korea and Vietnam are the two top destinations for export of oilmeal from India.
Source: moneycontrol.com