Oilmeal exports down 35% last month; 19% higher in April-June: SEA

Oilmeal exports fell 35 per cent in June to 2,80,001 tonne, mainly due to lower demand of rapeseed meals from overseas, according to trade body SEA. Exports of oilmeals stood at 4,29,616 tonne in the same month last year.

However, the overall exports of oilmeals rose 19 per cent to 12,10,045 tonne during April-June from 10,16,031 tonne in the corresponding period of the previous year.

In the first quarter of 2023-24, export of soybean meal rose to 3,64,611 tonne compared to 75,454 tonne in the year-ago period.

Exports of rapeseed meal fell to 6,20,738 tonne in April-June compared to 7,06,906 tonne in the corresponding period of the previous year.

Ricebran extractions export dipped to 1,25,582 tonne in the first quarter of this fiscal from 1,49,008 tonne in the year-ago period.

Castorseed meal exports increased to 90,750 tonne during April-June from 83,281 tonne in the corresponding period of the previous year.

During the first quarter, South Korea imported 2,47,012 tonne of oilmeals as compared to 3,38,850 tonne in the year-ago period.

Vietnam imported 1,92,656 tonne of oilmeals during April-June compared to 1,84,424 tonne in the same period last year, while Thailand imported 1,86,960 tonne of oilmeals as compared to 1,34,802 tonne.

Bangladesh purchased 2,57,880 tonne of oilmeals from India in April-June as against 1,25,439 tonne in the corresponding period of the previous year, the SEA data showed.