| Date: |
08-01-2015 |
| Subject: |
India's December oilmeal exports jump 107% MoM |
|
NEW DELHI: Export of oilmeal, used as animal feed, fell by 34 per cent to 3.89 lakh tonnes in December last year due to decline in soyabean meal shipments in the wake of sluggish global prices, industry body SEA said today.
Total oilmeal shipments stood at 5.90 lakh tonnes in the same month of corresponding year.
"Export of soybean meal greatly reduced in last nine months due to total disparity for soybean meal in international market," Mumbai-based Solvent Extractors Association (SEA ) said in a statement.
The average (freight on board) price of soyabean meal has dropped to USD 483 per tonne in December 2014, from USD 559 per tonne in the year-ago, it said.
Of total oilmeal exports in December, soyameal shipments were at 1.93 lakh tonnes, rapeseed meal at 1.29 lakh tonnes, castorseed meal at 48,072 tonnes and ricebran extraction at 18,200 tonnes.
In the April-December period of this fiscal, overall oilmeal exports stood at 18.41 lakh tonnes, down 42 per cent from 31.90 lakh tonnes in the year-ago.
With prices of soyabean meal ruling lower, the export of rapeseed meal and ricebran extraction has been increasing, the industry body said.
India exports oilmeal to countries such as South Korea, Thailand, Vietnam, Taiwan, Indonesia, Iran and the European nations.
Source : economictimes.indiatimes.com
|