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Oilmeals Export Slides 60% On Year In April

Business Finance

Capital Market 

The Solvent Extractors' Association (SEA) of India has reported data for export of oilmeals for the month of April 2020. The export of oilmeals during April 2020 is provisionally reported at 102,001 tons compared to 254,585 tons in April, 2019 i.e. down by 60%. The main reason for drop in export of oilmeals is disparity in export vis-vis other origin of oilmeals.

The high prices of MSP of Soybean and Rapeseed further discouraged the export and may continue in the coming month also. The Association has strongly pleaded to the Commerce Ministry for higher incentive to support the export of oilmeals from India. The export from Kandla is reported at 4,650 tons (5%), followed by Mundra handled 34,322 tons (34%), Mumbai including JNPT handled 8,604 tons (8%), Kolkata handled 32,559 tons (32%) and Others Ports handled 21,866 tons (21%).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 20 2020. 13:09 IST