Source: financialexpress.com

The total export of oilmeals for the month of July are reported at 1,48,983 tonnes, recording a spurt of 18.33% compared to July last year.

By: FE Bureau | Pune | August 9, 2018

The total export of oilmeals for the month of July are reported at 1,48,983 tonnes, recording a spurt of 18.33% compared to July last year.

The overall export during April-July 2018 was reported at 8,98,871 tonnes, up nearly 24% over the comparable period last year, data complied by the Solvent Extractors Association of India ( SEA) stated. The SEA noted that export of rapeseed meal jumped sharply, recording a spurt of 90% in last three months due to strong demand from South Korea, Vietnam and Thailand.

The ongoing trade dispute between US and China has also created a lot of uncertainty and is forcing China to look out at other origins for their requirements of Soybean and oilmeals. This has compelled China to re-look over ban imposed for importing oilmeals from India since 2012, according to the SEA. This will open up Chinese market for India.

Last week an official delegation from ministry of commerce visited China and tried to sort out the issues. Prior to ban in 2012, China used to import nearly half a million tonnes of oilmeals viz rapeseed meal 3.5 to 4.0 lakh tonne and 1.0 lakh tonne of soybean meal from India, the note said.

(Source: financialexpress.com)