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In December Oilmeal exports fall by 22%

Oilmeal exportsThe export of oil meal from the country has fallen by 22% from 3.01 lakh loads in Dec 2016 to 2.36 lakh loads in Dec 2017. Solvent Extractors Association of India (SEA) provided this data about oilseed food that is used as feed for animals.

The oilseed meal consignments during April-December 2017 improved and reached to 20.90 lakh tonnes from 11.69 lakh tonnes in the same months of the previous year.

SEA told that the federal govt has made moves recently that have provided in making  “Indian oilmeal more competitive in the world market and may result in a larger trade of oilmeal during the current year.”

The centre had lately improved the import duty of edible oils. The govt had also hiked the rewards for soybean food from 5% to 7% under the Merchandise Exports from India Scheme (MEIS).

SEA informed that the oilmeal export, after two bad years, is displaying signs of revival. The shipments are still low though from the earlier years when annual exports of oilmeal reached 40 to 45 lakh tonnes.

In Dec 2017, soybean meal exports were of volume 1.68 lakh tonnes, rapeseed meal export stood at 32,832 tonnes, groundnut meal was at 5,015 loads, rice bran extract consignments were at 5,200 loads and castor seeds meal was at 24,052 tonnes.

The major locations for the trade of oilseed food are Vietnam, South Korea, France, Bangladesh, Thailand, and Germany.