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In April Indian Oil Meal Export Rises By 19%

Indian Oil MealIn April the oil meal export of India increased as the shipments to the countries in Europe were higher by 19% and reached a figure of 135474 tonnes.

In the same time period in the previous year, the oil meal exports of the country were at 113978 tonnes according to the trade data.

In the international market as the rates of India are high and not at the competitive level in the lower rates prevailing so The Solvent Extractors Association of India (SEA) has reported a slight fall in soybean meal exports.

The crushing is also affected by this. On domestic soya oil prices the increase in soya oil imports is also exerting which together with soybean, sales is squeezing crush margins, communicated by SEA.

In the international market, the soybean meal prices were prevailing at USD 356 per tonne of soybean meal and at USD 395 per tonne India was selling its soy meal.

At USD 238 per tonne, the international prices of rapeseed meal were also lower and slightly higher are the Indian rates at USD 240 per tonne.

Although the soy meal exports have been seeing a slowdown but in April still saw a rise due to higher demand from Europe. There has been seen a fall in the exports of rapeseed meal, castor seed meal, and rice bran extraction and respectively during April reached to 6,842 tonnes, 2,758 tonnes and 1,500 tonnes.