Oilmeal exports down 58% in August to 1.33 LT

New Delhi, Sept 5: Oilmeal exports fell by 58% in August to 1,33,404 tonne due to lower shipments of soyameal, according to industry data.

Oilmeal exports had reached 3,17,161 tonne in August last year, the Solvent Extractors' Association said in a statement.

Total exports of oilmeals during April-August 2014-15 fell by 36% to 8,64,929 tonne, compared to 13,55,980 tonne in the first five months of 2013-14.

"Export of soybean meal greatly reduced in last five months due to lower crop than expected, resulting in high cost of soyabean in local market. This lead to total disparity for soybean meal in international market," Solvent Extractors' Association said.

Soyameal exports fell sharply to 1.1 lakh tonne during April-August against 7 lakh tonne in the corresponding period of the last fiscal. "The brighter side is that the share of rapeseed meal increased from 3,58,196 to 5,13,785 in the last five months," it added.

Oilmeals import by South Korea during April-August rose marginally to 4,16,918 tonne compared to 4,16,043 tonne in the year-ago period. Vietnam imported 65,630 tonne compared to 63,266 tonne during the period under review.

Iran's imports from India fell by 73% to 1,27,182 tonne in the first five months of this fiscal as compared to 4,72,361 tonne in the yearago period. PTI