Export Of Oilmeals Drops 24% In Last Ten Months

The Solvent Extractors' Association (SEA) of India has compiled the export data for export of oilmeals for the month of January 2020. The export of oilmeals during January 2020 is provisionally reported at 51,393 tons compared to 236,213 tons in January, 2019 i.e. down by 78%. The overall export of oilmeals during Apr.'19 to Jan.'20 is reported at 2,006,669 tons compared to 2,647,461 tons in Apr.'18-Jan.'19 i.e. down by 24%. This is mainly due to disparity in export of oilmeals, specifically soybean meal due to higher MSP of beans which makes the domestic soybean meal expensive in international market compared to other origins. The silver lining of the export is sharp increased in export of Castormeal, jumped by nearly 46% to 485,245 tons from 332,031 tons in the same period of last year, noted SEA.

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