Oilmeals exports up 69% in May on better price parity
Export of oilmeals, used as animal feed, has gone up by 69 per cent to 97,871 tonnes during May due to better price parity in the global market, an industry body SEA said today.
Though exports are showing an improvement in percentage terms, they are still lower when compared to the earlier years, it said in a statement.
Oilmeals shipments stood at 57,954 tonnes in May 2016.
"In last two months, the export of oilmeals improved as compared to the previous year due to good monsoon, better oilseeds production and price parity," Mumbai-based Solvent Extractors' Association of India (SEA) said.
During April-May period of this fiscal, 3,015,69 tonnes was exported as against 1,71,932 tonnes in the year-ago period, it said.
It may be also noted that India faced drought years during 2014-15 and 2015-16, which led to lower production of oilseeds, affecting export of oilmeals to a lowest level.
Of the total exports undertaken during May 2017, shipments to Europe and other countries increased to 1,27,548 tonnes from 3,989 tonnes in the year-ago.
Oilmeals exports to South East Asian countries also rose to 1,66,127 tonnes from 1,58,080 tonnes, but the shipments to Middle East fell to 7,894 tonnes from 9,861 tonnes in the said period, the data showed.