Oilmeal exports zoom 98% in October Back to News & Events List


oilmeal exports made a turnaround of sorts after a gap of two months as total shipments shot up 98 per cent to 67,779 tonnes in October on higher demand for rapeseed meal and castor seed meal, industry body SEA said today.

The country had shipped 34,168 tonnes of oilmeal, used as an animal feed, in October last year.

According to data released by the Solvent Extractors Association of India, the oilmeal exports have revived after two months. Exports had come in at 63,123 tonnes in August and 96,223 tonnes in September this year, but the growth was muted in year-on-year terms.

In October 2016, rapeseed meal export rose to 23,720 tonnes, from 3,079 tonnes in the year-ago period. Unlike the year-ago period, there was castor seed meal shipments to the tune of 31,025 tonnes in October this year.

However, export of soyabean meal fell to 3,177 tonnes, from 4,237 tonnes, while shipment of rice bran extraction too declined to 9,343 tonnes from 26,852 tonnes in the said period, Mumbai-based SEA said in a statement.

During April-October this fiscal, oilmeal exports dropped 29 per cent to 5,54,147 tonnes as against 7,83,565 tonnes in the year-ago period.

The fall in exports was due to lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeals in the international market, it noted.

South Korea and Vietnam are the top two destinations for export of oilmeal for India.

Original Source: thehindubusinessline.com


Recent News


14

10/2017
Reforms undertaken by India significant: World Bank chief

The reforms undertaken by Prime Minister Narendra Modi have been significant and the results would be reflected in the mid and long-term growth figures, the World Bank chief sa...

13

10/2017
Indo-Bhutan trade infrastructure to have large scale upgradation

To ensure seamless trade of Bhutan with India and other third parties, India is further widening its door for Bhutan.    Development and upgradation of n...

12

10/2017
Govt to focus on setting up mini food processing units

The government is focussing on creating mini food processing units across the country to encourage farmers to produce high-quality farm output, Food Processing Industries Mini...

11

10/2017
GST benefits will have positive impact on exporters, SMEs

The GST relief given to small and medium enterprises (SMEs) and exporters will have a positive impact, industry body SMERA said on Monday.   The GST Council on F...