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  1. Oilmeal exports drop 47 pc in February

Oilmeal exports drop 47 pc in February

Exports of oilmeals during February 2018 have dropped 47% in comparison to February 2017 to 161,969 tonne, according to figures compiled by the Solvent Extractors' Association of India.

By: | Pune | Published: March 9, 2018 12:26 AM
Oilmeal, Oilmeal exports, february, indian oilmeal Exports of oilmeals during February 2018 have dropped 47% in comparison to February 2017 to 161,969 tonne, according to figures compiled by the Solvent Extractors’ Association of India.

Exports of oilmeals during February 2018 have dropped 47% in comparison to February 2017 to 161,969 tonne, according to figures compiled by the Solvent Extractors’ Association of India. The overall export of oilmeals during April 2017 to February 2018 is provisionally reported at 2,677,536 tonne compared to 1,714,984 tonne during the same period of last year, which is a rise by 56%. On 17th November 2017, government raised the import duty on edible oils by 12.5% to 15% across the board and increased MEIS on soybean meal to 7% from 5%. These steps have made Indian oilmeal more competitive in the world market and resulted in to larger export of oilmeals during current year. Secondly, after two difficult years, export of oilmeals has revived in the current year, but still lower than earlier years, when India used to export over 40-45 lakh tonne of oilmeals annually. During April 17– February 18, oilmeal exported to Vietnam is reported at 564,091 tonne compared to 323,297 tonne. This consisted of 42,456 tonne of soybean meal, 84,788 tonne of rapeseed meal and 436,847 tonnes of de-oiled rice bran extraction. South Korea imported 756,946 tonne compared to 514,702 tonne, consisting 267,360 tonne of rapeseed meal, 459,414 tonne of castor meal and 30,172 tonne of soybean meal. Bangladesh imported 138,889 tonne compared to 230,588 tonne, comprising 26,037 tonne of rapeseed meal, 5,857 tonne of de-oiled rice bran extractions and 106,995 tonne of soybean meal. Thailand imported 167,681 tonne compared to 16,925 tonne, consisting 105,997 tonne of rapeseed meal, 13,502 tonnes of de-oiled rice bran extractions and 48,147 tonne of soybean meal. European countries were the major importers of Indian soybean meal. France imported 141,948 tonne of oilmeals compared to 208,489 tonne, consisting of 136,519 tonne of soybean meal and 5,429 tonne of castor meal. Rest of the European countries imported 341,145 tonne of oilmeals, mainly soybean meal.

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