With exports falling by 8 per cent, oilmeal shipments from India have been sliding in the first two months of the current year, says data compiled by the Solvent Extractors’ Association of India (SEA).
The data shows oilmeal shipments falling by 8 per cent for the April-May 2018 period at 321,179 tonnes against 348,222 tonnes during the same period last year.
In the month of May alone, exports fell 33 per cent from a year ago to 97,036 tonnes as shipments of soyameal and rapeseed meal fell.
However, SEA observed that the export of rapeseed meal, for the period under review, increased sharply to nearly 1,43,000 tonnes on large quantity of exports to South Korea and Thailand.
While Thailand has reported a 112 per cent jump in its imports from India, the other two major importers Vietnam and South Korea reported a decline of 13.44 per cent and 26.72 per cent, respectively, reports said.