Oilmeal exports down 10% in April-November

The country's oilmeal exports during April-November fell 10 per cent on year to 2.29 million tonnes, dragged by a decrease in exports of soymeal, data from the Solvent Extractors' Association of India said today.

Soymeal exports during the period fell to 1.4 million tonnes compared with 2.04 million tonnes during the year-ago period.For November, oilmeal exports rose over 1 per cent to clock 590,825 tonnes, the industry body said in a release. Exports have declined due to low soybean availability and appreciating rupee, said an industry official.

Vietnam, South Korea, China, Japan, Indonesia and Thailand are the major export destinations for India's oilmeal producers.

During April-November, exports to Vietnam rose 19 per cent to 737,912 tonnes, while exports to Japan rose 17 per cent to 316,225 tonnes.

Exports to other major destinations fell. While Indian oilmeal sales in Indonesia dropped by 55 per cent to 183,178 tonnes, those to China fell 42 per cent to 200,000 tonnes. Soymeal is the largest constituent of India's oilmeal export basket, with over 50 per cent share.