NEW DELHI, July 3 (Reuters) - Indian oilmeal exports slumped an annual 33 percent in June, dropping for the sixth straight month, due to lower demand and prices in traditional Asian markets although sales to China soared, a leading trade body said on Friday.
Exports were 197,593 tonnes in the month against 295,204 tonnes a year ago, while the exports in April-June were 614,528 tonnes, down 57 percent on year.
Lower exports were due to weakness in global prices displayed since early this year, said B.V. Mehta, executive director of the Solvent Extractors' Association of India.
India exported 109,923 tonnes of soymeal in June, 58,805 tonnes of rapeseed meal, 12,580 tonnes of ricebran meal and 16,046 tonnes of castormeal, the trade body said.
Sales to traditional Asian markets like Vietnam, South Korea, Japan, Indonesia and Thailand dropped sharply.
Exports in April-June to Vietnam fell 51.5 percent to 200,677 tonnes; to South Korea dropped 67.2 percent to 70,644 tonnes; Japan by 56.1 percent to 83,436 tonnes; Indonesia fell by 47.9 percent to 47,821 tonnes and to Thailand by 52.5 percent to 72,118 tonnes.
Oilmeal exports to China bucked the trend and jumped 71.4 percent for the three months to 93,289 tonnes, mainly due to higher shipment of rapeseed meal.
India, Asia's leading exporter of feedstock, sold 5.42 million tonnes of oilmeal in the fiscal year to March, almost steady with 5.44 million tonnes a year ago.
Source : REUTERS