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Oilmeal exports drop 32 pc this year

OILMEAL exports dipped 32 per cent to 34.86 lakh tonnes in the 2013-14 oil year (November-October) due to a significant drop in soyabean meal shipments as domestic production declined, the Solvent Extractors’ Association of India (SEA) said.

A total of 51.29 lakh tonnes of oilmeal, used as animal feed, was shipped in the previous year.

"Export of soyabean meal has greatly reduced over the past six months due to lower than expected crop, which has resulted in high cost of soyabean in the local market. This led to total disparity for soyabean meal in international market," SEA pointed out.

Source : Exim News Service - NEW DELHI, Nov. 11

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