Agri Business

Oilmeal exports plummet 60% in April on year

Our Bureau Ahmedabad | Updated on May 20, 2020 Published on May 20, 2020

Data released by the Solvent Extractors’ Association of India showes that oilmeal exports in April dipped by 60 per cent   -  Kutredrig

Higher local prices lend the shipments uncompetitive

India’s oilmeal exports for April dipped by 60 per cent to 102,001 tonnes as against 2,54,585 tonnes reported in the same month last year.

Sharing the provisional export data for the month, Solvent Extractors’ Association of India (SEA) stated that the oilmeal exports dipped primarily because of the disparity in the export vis-a-vis other origin of oilmeals.

“The higher MSP of soyabean and rapeseed has further discouraged the exports and the trend may continue in the coming month also,” SEA stated in a statement on Wednesday.

The Association has also pleaded to the Commerce Ministry for higher incentives to support the oilmeals shipments.

For the year 2019-20, oilmeal exports were reported at 24,33,617 tonnes, as against 33,24,693 tonnes in 2018-19 — a fall of nearly 27 per cent on year-on-year basis.

The sharpest decline is seen in soyabean meal exports, which were down by 49 per cent to 6,92,883 tonnes as against 13,58,083 tonnes reported in 2018-19.

Rapeseed meal exports declined by about 12 per cent to 9,61,312 tonnes (10,94,015 tonnes). Groundnut meal exports also fell by 55 per cent to 3,877 tonnes (8,673 tonnes).

Rice bran extract exports fell 51 per cent to 2,36,589 tonnes (487,968 tonnes).

Castor meal exports, however, showed a positive trend with a 43 per cent increase on year-on-year basis at 5,38,956 tonnes as against 3,75,954 tonnes.

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Published on May 20, 2020
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