New Delhi : Exports of oilmeals fell by 73 percent in August at 98,871 tonnes on account of higher domestic prices of soyabean meal, industry data showed.According to data compiled by the Solvent Extractors’ Association of India (SEA), the export of oilmeals during August 2019 stood at 98,871 tonnes, compared to 359,752 tonnes in the same month last year.
The overall export of oilmeals during April-August 2019 declined to 10,16,682 tonnes as compared to 13,26,626 tonnes in April-August 2018. “This is mainly due to higher price of domestic produce soybean meal, thanks to higher MSP of soybean. This made the domestic oilmeal expensive in international markets compared to other origins,” SEA said in a statement.
