India's oilmeals exports down 8% in last four months

The Solvent Extractors' Association of India has compiled the export data for export of oilmeals for the month of July 2020 and provisionally reported at 262,085 tons compared to 233,042 tons in July, 2019 i.e. down by 12%. The overall export of oilmeals during April to July 2020 is provisionally reported at 841,195 tons compared to 917,811 tons during the same period of previous year i.e. down by 8%. In-spite of tough competition in world market, export of rapeseed meal performed well, during the last four months of financial year 2020-21 and reported at 436,480 tons against last year during the same period at 373,477 tons i.e. up by 17%, thanks to higher processing of Rapeseed Cake and better availability of Rapeseed Meal. SEA also noted that Ricebran Extraction is picking up while Soybean meal and Castorseed Meal suffering. SEA has once again represented to Ministry of Commerce to continue 5% MEIS for export of oilmeals and be raised to 10% to support the export of oilmeals and perusing the same.

Powered by Capital Market - Live News