India Oilmeal Exports Jump 130 Percent in December
HYDERABAD: India’s export of oil meals more than doubled in December 2016 mainly driven by high demand of non-genetically modified (GMO) soybean meal from France, said Solvent Extractors’ Association of India.
The Country exported 1,94,309 tonnes in December 2016, an increase of 130% from 84,218 tonnes reported same period last year. France imported 1,06,708 tonnes of oilmeals as compared to 1,956 tonnes last year, consisting of 1,03,650 tonnes of soybean meal and 3,058 tonnes of castor meal.
However, the overall export of oilmeals during April to December 2016 was down 13% at 8,56,798 tonnes compared to 9,87,842 tonnes during the same period of last year. Among the major importers of oilmeals from India, South Korea’s import during April-December period declined to 4,52,099 tons from 6,16,691 tonnes in the corresponding period last year. Similarly, other importing countries like Vietnam saw their imports dwindling to 1,20,294 tonnes from 2,14,028 tonnes last year.