Oilmeal exports grow 115% last month
The Dollar Business Bureau India’s oilmeal exports grew a whopping 115% in February 2017, due to a sharp increase in soyameal exports, according to The Solvent Extractors' Association of India (SEA) data. India exported 2,63,509 tonnes of oilmeal as against 1,22,527 tonnes in February 2016. The accumulative exports of oilmeal grew 18% to 16.73 lakh tonnes during the first eleven months of 2016-17 fiscal as against 14.23 lakh tonnes during the corresponding period of last year. India exported 15.29 lakh tonnes of oilmeal in 2015-16. "The export of oilmeals during February 2017 has more than doubled and reported at 2,63,509 tonnes compared to 1,22,527 tonnes in February 2016," SEA said in a statement. South Korea remained the top importer of Indian oilmeal at 5,10,006 tonnes, ...
Soybean meal exports witness 735.6% rise: SOPA
The Dollar Business Bureau There has been a 735.6 per cent increase in the export of Soybean meal and its other value added products during December 2016 with the same rising to 2,41,256 tons as compared to 28,870 tons in December 2015, according to industry body Soyabean Processors Association (SOPA). Considering the financial year from April 2016 to December 2016, the export stood at 4,46,130 tons as compared to 3,02,304 tons in the same period of previous year showing an increase of 47.58 per cent. As per the Solvent Extractors Association, the export of oilmeals during December 2016 witnessed a more than double rise due to huge demand of Non-GMO Soybean Meal from France and was reported at 194,309 tons compared to 84,218 tons. The ...
Indias oilmeal exports jumps two-fold in July
The Dollar Business Bureau India’s oilmeal exports jumped two-fold to 87,944 tonnes in July in the wake of higher outbound shipment of castorseed meal to South Korea, said the industry body, Solvent Extractors Association of India (SEA) on Friday. On the other hand, exports of oilmeal during the April-July period of the current fiscal dropped 47 percent to 2,74,237 tonnes against the 5,17,914 tonnes in the same period a year earlier. In July 2015, India had exported 44,238 tonnes of oilmeal, which was utilised as animal feed. The Mumbai-based industry body, SEA, attributed a drop in the exports of oilmeal during the April-July quarter to lesser availability of oilseeds for crushing and also due to the constant disparity in shipping oilmeal to the foreign markets. According ...
India's veg oil imports forecast to surge 60% to $15 billion this year: ASSOCHAM
The Dollar Business Bureau | @TheDollarBiz The juggernaut of India’s veg oil imports, which started rolling in the mid-nineties following import relaxations and economic reforms, is all set to grow to mammoth proportions this year. A new report by the Associated Chambers of Commerce & Industry of India (ASSOCHAM) says that India’s spending on veg oil imports is expected to reach a record high of $15 billion in FY2014-15. This is over 60% more than what India spent in FY2013-14 (around $9.3 billion) and about 3% of India’s total imports last year. According to the report, India’s imports of veg or edible oils in the first five months of this fiscal year are already up over 53% y-o-y ...
Indias oilmeal exports plunge 58% on high prices of soybean
The Dollar Business | @TheDollarBiz India’s oilmeal exports in August 2014 have dropped sharply to 133,404 tonnes, which is down about 58% from 317,161 tonnes exported in August 2013. According to the Solvent Extractors’ Association of India (SEA), India’s overall oilmeal exports during April-August 2014 also declined around 36% to 864,929 tonnes from 1.35 million tonnes exported in the corresponding period last year. The steep decline is mainly due to high soybean prices in the domestic market, says SEA. Poor monsoon last year reduced supplies of soybean for crushing in the manufacture of edible oil. According to USDA estimates, India’s soybean meal production in 2013 is estimated at 6.88 million tonnes, which is down almost 12% from an estimated 7.8 million ...
