Oilmeals export fell by 70 per cent to 54,390 tonnes in April on lower availability of oilseeds and price disparity with global markets, according to an industry data.
"The overall export of oilmeals during April is reported at 54,390 tonnes compared to 1,82,638 tonnes in April 2015 i.E. Down by 70 per cent due to lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeals in international market," Solvent Extractors' Association of India said in a statement.
Oilmeals export to South Korea declined 60.53 per cent to 47,082 tonnes last month as against 1,19,297 tonnes in April 2015. Vietnam imported only 1,182 tonnes compared to 21,132 tonnes during the period under review.
"India is currently totally out priced in international market due to huge price variation," the statement said.
India's oilmeals exports dropped by 52 per cent to 11.84 lakh tonnes in financial year 2015-16 as against 24.65 lakh tonnes in the previous year, due to sharp fall in soyabean shipments.
In value terms, the exports fell by 65 per cent to Rs 1,510 crore compared with Rs 4,298 crore in 2014-15.
