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Exports of oilmeal drop by 37% to 1.77 lakh tonnes in July

08 Aug 2013 Evaluate

The export of Oilmeals during July 2013 stood at 1.77 lakh tonnes (LT) compared to 2.82 LT in July 2012, a decline by 37%, as per reports compiled by Solvent Extractors’ Association of India. This drop in export was due to domestic prices were higher than the rates prevailing in South East Asian nations.

The exports of Oilmeal in the first four months of the financial year have been dropping. During April-July 2013, the total export of Oilmeals reduced and reported at 10.27 LT compared to 13.56LT during the same period of last year, down by 24%. During April-July exports of Soybean meal drastically reduced to 5.16 LT from 8.05 LT, while Rapeseed meal has maintained pace, Castor meal shipment has increased during April, May and June 2013.

The top 3 countries on import front during April-July 2013 were South Korea which reported import of 3.25 LT compared to 3.54 LT last year consisting of 1.25 LT of rapeseed meal and 2.00 LT of castor meal. Iran imported 3.63 LT compared to 4.51 LT, consisting 3.63 LT of soybean meal, and small quantity of rapeseed meal. Thailand imported 86,233 tonnes compared to 89,528 tonnes, consisting 10,079 tonnes of soybean meal, and 76,154 tonnes of rapeseed meal.

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