India's oilmeal exports during the last fiscal stood was $1.87 billion (Rs 11,450 crore) down by 11%, and in terms of value it is down by 3% in rupee terms.
Exports to Japan, Vietnam and Indonesia were drastically down due to increase in exports from other competing countries like Argentina and China, according to data released by Solvent Extractors' Association of India.
Indonesia has also started crushing domestically which is also impacting India's oilmeal exports in a big way.
South Korea and Thailand have imported rapemeal seed in a big way from from India which has also helped.
Europe has turned out to be bigger market for Indian non GMO soybean Meal. Europe have imported 632,601 tonnes compared to 493,966 tonnes of last year.
Exports to Japan, Vietnam and Indonesia were drastically down due to increase in exports from other competing countries like Argentina and China, according to data released by Solvent Extractors' Association of India.
Indonesia has also started crushing domestically which is also impacting India's oilmeal exports in a big way.
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Middle East and African countries have increased their buying from India and Iran has continued buying from India which has helped contain the fall in oilmeals exports. Middle East and African countries have increased to 1.4 million tonnes compared to 1.2 million tonnes last year.
South Korea and Thailand have imported rapemeal seed in a big way from from India which has also helped.
Europe has turned out to be bigger market for Indian non GMO soybean Meal. Europe have imported 632,601 tonnes compared to 493,966 tonnes of last year.