Oilmeal Exports Down 8% in April-May Period

Oilmeal exports from India have dropped for the first two months of the current financial year, according to data compiled by the Solvent Extractors’ Association of India (SEA). Oilmeal shipments declining by 8 per cent for the April-May 2018 period at 321,179-tonnes against 348,222- tonnes during the same period last year.

For the month of May alone, exports fell 33 per cent from a year ago to 97,036-tonnes as shipments of soyameal and rapeseed meal dropped. The country exported 41,452-tonnes of soyameal in the month.

(P) – Provisional; ® – Revised

SEA informed that export of rapeseed meal, for the period under review, has increased sharply to nearly 1,43,000-tonnes on higher exports to South Korea and Thailand. While Thailand has reported a 112 per cent jump in its imports from India, the other two major importers – Vietnam and South Korea – reported a decline of 13.44 per cent and 26.72 per cent, respectively.

Among other European countries, France emerged as a key destination for Indian oilmeal exports as it imported 28,377-tonnes of oilmeals as against 1,736-tonnes last year. The country shipped in 26,600-tonnes of soyabean meal and 1,777-tonnes of castor meal, SEA data showed.