India's export of oilmeals in October 2019 has dropped by 55% to 105,085 tonnes as compared to 233,867 tonnes in October, 2018, according to figures released the Solvent Extractors' Association of India (SEA).
The overall export of oilmeals during April-October, 2019 is reported at 1,392,564 tonnes compared to 1,732,916 tonnes in the same period last year, down by 24%. This is mainly due to disparity in export of oilmeals, specifically soybean meal due to higher MSP of beans which makse the domestic soybean meal expensive in international market compared to other origins.
During April-October 2019 Vietnam imported 192,440 tons of oilmeals (compared to 338,292 tonnes) consisting of 3,668 tonnes of soybean meal, 124,590 tonnes of rapeseed meal and 64,182 tonnes of de-oiled rice bran extraction.
South Korea imported 557,510 tonnes of oilmeals (compared to 472,935 tonnes) consisting 27,326 tonnes of soybean meal, 253,523 tonnes of rapeseed meal and 276,661 tonnes of castorseed meal. Thailand imported 130,715 tonnes of oilmeals (compared to 198,798 tonnes) consisting of 111,367 tonnes of rapeseed meal, 17,581 tonnes of Rice Bran Extractions and 1,767 tonnes of soybean meal, the report said.