Oilmeal exports drop 21% during April-November

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Updated: December 7, 2019 4:17:44 AM

The country exported 1,05,085 tonne of oilmeal during the month this year against 2,33,867 tonne in October 2018, it added.

Oilmeal exports, MSP of soyabean, shipment of oilmeals, Vietnam, Indian soyabean oilmeal The SEA has compiled the export data for shipment of oilmeals for November 2019.

The country’s oilmeal exports have dropped 21% during April-November 2019 at 16,52,599 tonne compared to 20,86,321 tonne in April-November 2018. India exported 13,92,564 tonne oilmeal between April and October, a drop of 24% against the 17,32,916 tonne oilmeal exported over the same period last year.

SEA said high minimum support price (MSP) of soyabean in the country led the Indian soyabean oilmeal to become costlier than that of other countries. “This is the reason our oilmeal is losing out in competition from other countries,” it added.

It is mainly due to disparity in export of oilmeals, specifically soyabean meal due to higher MSP of beans which makes the domestic soyabean meal expensive in international market compared to other origins. The export of oilmeals during November 2019 is provisionally reported at 1,26,128 tonne compared to 3,53,405 tonne in November 2018, down by 64% year-on-year in October, the SEA said.

The country exported 1,05,085 tonne of oilmeal during the month this year against 2,33,867 tonne in October 2018, it added. According to the association, oilmeal exports from the country have seen a continuous decline this year.

The SEA has compiled the export data for shipment of oilmeals for November 2019. The export of oilmeals during the month is provisionally reported at 1,26,128 tonne as compared to 3,53,405 tonne in November 2018, down by 64%. The overall export of oilmeals during April-November, 2019 is reported at 16,52,599 tonne as compared to 20,86,321 tonne in April-November 2018, down by 21%.

During April-November 2019, Vietnam imported 2,12,546 tonne of oilmeals (compared to 3,84,814 tonne); consisting of 3,782 tonne of soyabean meal, 1,34,412 tonne of rapeseed meal and 74,352 tonne of De-oiled Rice Bran Extraction.

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