Oilmeal exports fell by 37% to 1.15 LT in July

Export of oilmeal stood at 1.82 lakh tonnes during the same period of 2013-14

Oilmeal exports fell by 37% to 1.15 lakh tonnes during July in the current fiscal due to a sharp decline in soyabean shipments, according to SEA.

Export of oilmeal, used as animal feed, stood at 1.82 lakh tonnes (LT) during the same period of 2013-14.

Exports of oilmeal during April-July period decreased by 31% to 7.21 LT in the current fiscal compared to 10.39 LT in the same period in 2012-13, the Solvent Extractors Association (SEA) said in a statement.

"Export of soybean meal greatly reduced in last 3 months due to high cost of soybean in local market lead to total disparity for soybean meal in international market," SEA said.

In July, soybean meal exports fell drastically to 6,635 tonnes as compared to 1.07 LT in the same month last fiscal.

Similarly, castor seed meal shipments also fell to 20,722 tonnes from 25,171 tonnes during the period under review.

However, the export of rapeseed during the same period more than doubled to 87,637 tonnes as compare to 40,902 tonnes.