Oilmeals export decline by 34% in June 2018
The export of oilmeals during June 2018 has dropped by 33.56% as compared to June 2017 even though the overall export during April to June 2018 is reported at 654,774 tonnes compared to 599,346 tonnes during the same period of last year, up by 9%. The export of rapeseed meal is sharply increased to nearly 135,000 tonnes (90%), in first three months, mainly due to higher exports South Korea and Thailand.
The ongoing trade dispute between USA and China has created a lot of uncertainty and forcing China to look out to other origins for their requirements of soybean and oilmeals. This has compelled China to relook its ban imposed for importing of oilmeals from India since 2012. This will open up Chinese market for India. Of course, this is subject to clarification about phytosanitory certificate for export of oilmeals from India, the Solvent Extractors' Association of India (SEA) said.