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India’s export of oilmeals falls by 39% to 105,232 tons in September

09 Oct 2019 Evaluate

The Solvent Extractors' Association of India (SEA) in its latest provisional data has showed that India’s oilmeals export fell sharply by 39% to 105,232 tons in September 2019 as compared to 172,423 tons in September, 2018. The overall export of oilmeals during April-September, 2019 stood at 1,251,527 tons compared to 1,499,049 tons in April- September, 2018, down by 17%. This is mainly due to disparity in export of oilmeals, specifically soybean meal due to higher Minimum Support Price (MSP). This make the domestic oilmeals expensive in international market compare to other origins.

According to the data, the sharpest fall was seen in the soybean meal exports at 347,785 tons in April-September, 2019, which is down from 417,157 tons for the period last year. For September alone, soybean meal exports tumbled to mere 19,152 tons as against 95,450 tons in the preceding month. Besides, Rapeseed meal, G. Nut meal, Rice Bran ext. and castor seed meal exports stood at 43,933 tons, 101 tons, 3,900 tons and 38,146 tons, respectively, in September 2019.

Among the countries which imported less from India included Vietnam, which reduced its oil meal imports to 170,705 tons in April-September, 2019 from 293,001 tons in April-September, 2018. This includes 3,070 tons of soybean meal, 107,183 tons of rapeseed meal and 59,933 tons of De-oiled Rice Bran Extraction. During the same period, Thailand imported 125,472 tons of oilmeals lower compared to 187,159 tons. However, South Korea imported 505,290 tons of oilmeals in the reporting period, higher compared to 463,145 tons in the same period last year.

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