Indian Oil meal exports see sharp drop; Soy meal fall 62%: SEA


Oil meals export from India has undergone a sharp plunge in March. The export of Oil Meals during March 2016 is reported lower by 75 per cent at 51,698 tonnes compared to 209,227 tonnes in March 2015, Solvent Extractors' Association(SEA) said in its latest release.

The total export of oil meals during April 2015 to March 2016 in terms of quantity is reported down by 52 per cent at 1,184,441 tonnes compared to 2,465,663 tonnes during the same period of last year on lower crushing of soybean and on cheaper supplies from South America to traditional markets.

Soy meal exports has been drastically lower by 62 per cent to 430 tonnes in March 2016 as compared to 1127 tonnes in February 2016 whereas mustard Meal exports declined by 26 per cent to 7260 tonnes.

Export to South Korea, Thailand, Indonesia, Taiwan, Iran, Vietnam , Myanmar, Cambodia drastically reduced due to disparity in export in these regions against severe competition from other origins including China and Argentina.

Source: Commodity Online 

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