Indias oilmeals exports down 68% in April-May16
The Dollar Business Bureau India’s exports of oilmeals dropped by 68 percent to almost 97,779 tonnes in April-May 2016 compared to 303,977 tonnes during the same period of last year. In May this year, exports of oilmeals plunged by 94 percent to 7,737 tonnes against 121,339 tonnes in the same month a year earlier. India’s major importers of oilmeals include South Korea, Vietnam, Indonesia, Taiwan, and Myanmar. In April-May 2016, India exported 47,202 tonnes of oil meals to South Korea, consisting of 10,302 tonnes of rapeseed meal and 36,900 tonnes of castor meal, as against 179,569 tonnes during the corresponding period of last year. Oilmeals imported by Vietnam from India stood at 35,878 tonnes till May this year, as against last year’s 57,604 tonnes. India’s total ...
'Oilmeal exports unlikely to escalate in coming months'
Deepak Kumar | The Dollar Business Even as India’s oilmeal exports recorded a marginal growth of 4% in September, industry experts believe that the shipments are unlikely to witness a significant growth in coming months. “We are not expecting a healthy exports trend in coming months. There are several obstacles ahead including high oil and bean prices, and they are pulling down India’s oilmeal exports. Overall exports are already down by more than 30% in the first six months of the current financial year over the same period in 2014-15. We need some strict measures,” B V Mehta, Executive Director of the Solvent Extractors’ Association (SEA), told The Dollar Business. Oilmeal exports in September registered a growth of 4% and reached 1.14 ...
