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 ...
Exports may improve in the coming months: Sitharaman
The Dollar Business Bureau Drop in outbound shipments have bottomed out and exports are likely to see gradual improvement in the near-term depending upon how demand picks up globally, Nirmala Sitharaman, Minister for Commerce and Industry said on Wednesday. The Minister said that the improvement in global demand is not as much as “we would expect it to be”. “Problems continue in several countries. The economy of Brazil is in trouble. The European Union (EU) is coping with the after effects of UK’s exit (Brexit). The UK itself is looking to start fresh discussions,” she said. “So while there is hope…the exports having bottomed out and its now showing signs of improvement, (but) will still have some way to go before they really steadily move upwards,” ...
Exports of key agricultural products see negative trend
The Dollar Business Bureau Exports of agricultural products from India saw a sharp decline in December with 5 of the 11 key items from the sector registering a negative growth of up to 83%, mainly due to the ongoing demand slump and price erosion in the global market. The export of oil meals witnessed the maximum 82.93% fall in December last year, reducing to just $36.67 million as compared to the shipment value of $214.91million in December 2014, the latest government data said. While rice exports fell by more than 35.58%, items included under the category of other cereals dipped by more than 66%. Similarly, cashew which used to be the hallmark of Indian agri exports declined by 15.38%, and ...
