The export of oilmeals dropped by 52% and stood at 1.18 million tonnes (MT) in 2015-16, against 2.46 MT recorded previous year, as per data compiled by the Solvent Extractors' Association (SEA). This drop in exports can be attributed to a sharp fall in soyabean shipments. In value terms, the export fell 65% to Rs 1,510 crore, compared to Rs 4,298 crore in 2014-15.
The exports to South Korea, Thailand, Indonesia, Taiwan, Iran, Vietnam, Myanmar and Cambodia drastically reduced in 2015-16 due to price disparity, owing to severe competition from other origins, including China and Argentina.
The exports of soyabean meal dropped to 70,820 tonnes in 2015-16, from 6,59,593 tonnes last year. India lost the Vietnam market for soyabean meal due to stiff competition and increased availability from domestic crushing of imported soyabean. Iran has shifted soyabean meal buying from India to other countries, while Bangladesh has moved to import of soyabean for domestic crushing.
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