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Oilmeal exports up 85.35% in Apr-Sep: SEA

Press Trust of India  |  New Delhi 

The country's oilmeal rose by 85.35 per cent to over 11 lakh tonnes in April- September this fiscal on higher domestic output and better global prices, an industry body said today.

The shipments of oilmeal, used as animal feed, stood at 5.94 lakh tonnes in the year-ago period.

Oilmeal have "revived" to some extent this year owing to higher oilseeds output last year on account of good rains after two straight years of drought, Mumbai-based Solvent Extractors Association (SEA) said in a statement.

Better price parity in the global market also gave a boost to shipments, it said while noting that though there is improvement in this year but it is still lower than that seen in earlier years.

In the first half of this fiscal, soyabean meal export rose to 3,97,364 tonnes from 75,720 tonnes in the year-ago period.

Castorseed meal exports rose to 2,86,090 tonnes from 2,22,137 tonnes, rapeseed meal shipments jumped to 2,62,832 tonnes from 1,37,552 tonnes, while that of Groundnut meal rose marginally to 618 tonnes from 512 tonnes in the said period.

However, the shipment of ricebran extraction remained slightly down at 1,54,785 tonnes in April-September this year compared to 1,58,608 tonnes in the year-ago period.

South Korea, Europe, Thailand, Myanmar and Germany are major export destinations for oilmeal exports.

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

First Published: Tue, October 10 2017. 17:13 IST