Export of oilmeal, used as animal feed, declined 36 per cent year-on-year to 1.83 lakh tonne in September on account of the domestic shortage of the oilmeal products, industry body SEA said on Monday.
To meet local shortage the government has allowed the import of genetically modified (GM) soyameal, and it should give some relief to the poultry industry, it said in a statement.
Oilmeals are used as animal feed in poultry and other sectors. Oilmeal exports stood at 2.87 lakh tonne in September 2020.
According to the latest data released by the Solvent Extractors' Association (SEA), soyameal exports declined sharply to 5,831 tonnes in September this year from 68,576 tonnes in the year-ago period.
''India is currently outpriced for export of soybean meal and unlikely to revive till we have the new crop in October-November,'' the industry body said.
Export of castor seed meal declined to 34,881 tonnes from 45,483 tonnes a year ago.
Similarly, the export of rapeseed meal declined to 62,725 tonnes in September this year from 1,40,830 tonne in the year-ago period, while that of rice-bran extraction shipment rose to 80,188 tonnes from 32,068 tonnes.
In the first six months of 2021-22, oilmeal exports fell to 12.75 lakh tonne from 13 lakh tonne in the year-ago period. South Korea, Vietnam and Thailand are the three major export destinations for oilmeal for India.
Source:financialexpress.com