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The export of oil meal from the country has fallen by 22% from 3.01 lakh tonnes in December 2016 to 2.36 lakh tonnes in December 2017. Solvent Extractors Association of India (SEA) provided this data about oilseed meal that is used as feed for animals.
The oilseed meal consignments during April-December 2017 increased and reached to 20.90 lakh tonnes from 11.69 lakh tonnes in the same months of the previous year.
SEA told that the government has made moves recently that have contributed in making “Indian oilmeal more competitive in the world market and may result in larger export of oilmeal during the current year.”
The center had recently increased the import duty of edible oils. The government had also hiked the incentives for soybean meal from 5% to 7% under the Merchandise Exports from India Scheme (MEIS).
SEA told that the oilmeal export, after two bad years, is showing signs of revival. The shipments are still low though from the earlier years when annual exports of oilmeal reached 40 to 45 lakh tonnes.
In December 2017, soybean meal exports were of volume 1.68 lakh tonnes, rapeseed meal export stood at 32,832 tonnes, groundnut meal was at 5,015 tonnes, rice bran extract consignments were at 5,200 tonnes and castor seed meal export was at 24,052 tonnes.
The major destinations for the export of oilseed meal are Vietnam, South Korea, France, Bangladesh, Thailand, and Germany.