You are here: Home » News-CM » Economy » News
Business Standard

SEA Says Oilmeals Export Down 16% In November

Capital Market 

As per the latest data compiled by Solvent Extractors' Association of (SEA OF India), the export of oilmeals during November 2018, provisionally reported at 311,739 tons compared to 369,522 tons in November 2017 i.e. down by 16%. The overall export during April to November 2018 is reported at 2,043,282 tons compared to 1,855,558 tons during the same period of last year i.e. up by 10%. The export of meal sharply increased to 745,901 (392,463) tons in first eight months, almost double mainly due to exports to South Korea, and

The Ministry of stated that will resume import of Meal from Those five units already approved by General Administration of Customs of the People's Republic of China, GACC ( formely AQSIQ) will able to resume the export of Meal to once their registration with Chinese Ministry of (MoA) is done which is cumbersome process and takes a long time. In case of resumption of export of Soybean Meal from India to China, may take some more time as Chinese GACC team likely to visit during current month to inspect/approve the units. Prior to ban in 2012, used to import nearly half a million tons of oilmeals viz. Rapeseed meal 3.5 to 4.0 lakh tons and 1.0 lakh tons of soybean meal from India.

Also, Iranian market has opened up for Indian soybean meal. During current year from April to November 2018, around 2.0 lakh tons of soybean meal shipped against last year just 23,000 tons, supporting export of oilmeals from India.

Powered by Capital Market - Live News

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

First Published: Fri, December 07 2018. 13:05 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU