Oilmeal exports drop by 49% in May

Oilmeal exports fell by 49 per cent to 1.53 lakh tonnes in May this year due to decline in shipments to Indonesia, Malaysia and other countries, according to industry body SEA.
About 2.98 lakh tonnes of oilmeal, used as animal feed, was shipped in the same month last year, it said in a statement.
Much of the fall in shipment was seen in soyabean meal. The country exported 8,226 tonnes of soyabean meal in May this year, as against 96,492 tonnes in the same month corresponding year, according to the Solvent Extractors Association (SEA).
The export of rice bran extraction also fell to 400 tonnes from 7,573 tonnes. However, the shipment of rapeseed meal rose to 95,847 tonnes from 88,284 tonnes in the review period, it said.

As per the SEA data, export to South Korea fell to 1.09 lakh tonnes in May this year, from 1.39 lakh tonnes in the year-ago.
Similarly, the shipments to Indonesia declined to 6,299 tonnes from 12,358 tonnes, while export to Malaysia dropped to 439 tonnes from 2,800 tonnes in the review period.
The exports to Taiwan and Myanmar also remained sluggish, while no shipments took place to Thailand and Singapore during May of this year, the SEA said.