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Oilmeal exports up 9% at 14 lakh tonne during Apr-Sep FY'19

Press Trust of India  |  New Delhi 

India's oilmeal exports rose 9 per cent to 14.03 lakh tonne during the first six months of the ongoing financial year, driven by sharp increase in shipments of rapeseed meal, according to industry data.

The country exported 14,03,382 tonne during April-September 2018 as against 12,84,788 tonnes in the same period last year, the data compiled by Mumbai-based Solvent Extractors' Association of (SEA) showed.

Rapeseed meal exports doubled to 6,01,105 tonne in the reported six months from 3,00,627 tonne in the year-ago period. South Korea, and were major importers.

However, exports of soybean meal fell to 3,92,736 tonne from 4,89,926 tonne during the period under review.

As per the data, exports to rose 24 per cent to 2,77,406 tonne during the first six months of 2018-19.

imported 1,67,101 tonne during April-September 2018 as against 76,895 tonne in the year-ago period.

Exports to more than doubled to 76,704 tonne from 35,520 tonne earlier.

imported 85,100 tonne from during the period under review from 42,612 tonne in the year-ago six months.

Exports to rose marginally by 3 per cent to 4,41,119 tonne from 4,27,126 tonne in the year-ago period.

"The ongoing trade dispute between the US and has created a lot of uncertainty and is forcing to look out for other origins for their requirements of soybean and oilmeals. This has compelled to relook its ban imposed for importing of oilmeals from since 2012," SEA said in a statement issued last week.

The association expects China to soon lift the ban for import of rapeseed meal from India.

"Prior to the ban in 2012, China used to import nearly half a million tonne of oilmeals viz. rapeseed meal 3.5 to 4 lakh tonne and 1 lakh tonne of soybean meal from India," SEA said.

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

First Published: Mon, October 08 2018. 13:30 IST