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Oilmeals exports declined by 37% to 1,77,011 tonnes in July as domestic prices were higher than the rates prevailing in South-East Asian nations, says industry body Solvent Extractors' Association of India.
The country had shipped 2,82,703 tonnes of oilmeal, used as animal feed, in the same month last year, it said.
"Our exports have fallen because our commodity is overpriced in South-Eastern nations. China is also giving a tough competition," Mumbai-based Solvent Extractors' Association of India (SEA) Executive Director B V Mehta told PTI.
Releasing the latest export data, Mehta said the price disparity of Indian oilmeal with other countries has affected shipments.
Out of total oilmeal exports in July, the country has exported maximum of 107,038 tonnes of soyabean meal, followed by 40,902 tonnes of rapesead meal, 25,171 tonnes of castor seed meal and 3,900 tonnes of ricebran extraction, it said.
During the April-July period of this fiscal, the country's oilmeal exports have dipped by 24% to 10,27,962 tonnes, as against 13,56,737 tonnes in the same period corresponding year.
Major export destination for oilmeal are South Korea, Iran, Thailand, Vietnam, Indonesia and Japan.
