Oilmeal export up 19% in April

India's oilmeal export rose by 19 per cent to 1,35,474 tonnes in April of this fiscal on higher sales to European nations, according to trade data.
The country had shipped 1,13,978 tonnes of oilmeal, used as animal feed, in the same period last year.
However, Solvent Extractors Association of India (SEA) observed that soybean meal exports have slowed down as Indian rates are not competitive in the global market where prices have come down.
"This is also affected the crushing. Increase in soya oil imports are also exerting pressure on domestic soya oil prices, which together with soybean, sales is squeezing crush margins," it said in a statement.

Global prices of soybean meal were at USD 356 per tonne, while Indian rates stood at USD 395 per tonne. Similarly, global rapeseed meal prices were at USD 238 per tonne, as against Indian rates of USD 240 per tonne, it added.
Even as soybean meal exports been dwindling for some time, but in April the volumes rose to 1,24,374 tonnes from 12,295 tonnes in the year-ago period on higher sale to European countries.
But shipment of rapeseed meal, castor seed meal and rice bran extraction fell to 6,842 tonnes, 2,758 tonnes and 1,500 tonnes, respectively, in the said period.

Much of the oilmeal was exported via Kandla port, followed by Mumbai and Mundra.