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The oil meal export of India in April increased by 19% and reached a figure of 135474 tonnes as the shipments to the countries in Europe were higher.
According to the trade data, in the same time period in the previous year, the oil meal exports of the country were at 113978 tonnes.
The Solvent Extractors Association of India (SEA) has reported a slight fall in soybean meal exports because the rates of India are high and not at the competitive level in the lower rates prevailing in the international market.
“This is also affected the crushing. The increase in soya oil imports are also exerting pressure on domestic soya oil prices, which together with soybean, sales is squeezing crush margins,” SEA communicated.
The soybean meal prices in the international market were prevailing at USD 356 per tonne of soybean meal and India was selling its soy meal at USD 395 per tonne.
The international prices of rapeseed meal were also lower at USD 238 per tonne whereas the Indian rates were slightly higher at USD 240 per tonne.
The soy meal exports although have been seeing a slowdown but still saw a rise in April due to higher demand from Europe. The exports of rapeseed meal, castor seed meal, and rice bran extraction saw a fall and reached to 6,842 tonnes, 2,758 tonnes and 1,500 tonnes, respectively during April.