India's oilmeal exports slumped by 63 per cent in July to 1,73,329 tonnes mainly due to sluggish demand from countries like Vietnam, South Korea and Malaysia, the Solvent Extractors' Association said today.
Oilmeal exports stood at 4,74,590 tonnes in the same period last year, it said.
The SEA attributed weak export demand and lower crushing/processing as the main reason for fall in shipments.
India shipped one lakh tonnes of rapeseed meal, 58,268 tonnes of soyameal, 6,430 tonnes of rice bran, and 1,000 tonnes of castorseed meal, in July the SEA data said.
Shipments to Vietnam, South Korea, Malaysia and China dipped sharply during the last month, it added.
Shipment to Vietnam declined to 37,555 tonnes in July from 97,447 tonnes in a year-ago period. Exports to South Korea to fell to 32,408 tonnes from 81,569 tonnes during the review period.
Shipments via Mumbai and Kandla ports declined significantly, it further said. Shipments through Mumbai ports dipped to 41,109 tonnes from 1.31 lakh tonnes.
The total exports of oilmeals till July in the current fiscal is also down by 59 per cent to 7.87 lakh tonnes from 19 lakh tonnes in the same period last year, it said.
Source : Business Standard