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India's July oilmeal exports down 2.6 pct yr/yr

Date: 08-08-2012
Subject: India's July oilmeal exports down 2.6 pct yr/yr

MUMBAI: India's oilmeal exports fell to 274,635 tonnes in July from 281,879 tonnes a year earlier led by a sharp drop in the overseas sales of rapeseed meal, a leading trade body said on Tuesday.

Soymeal exports, which make up the bulk of sales, rose to 168,341 tonnes in July, the fourth month of the current fiscal year, from 139,547 tonnes a year ago, the Solvent Extractors' Association of India said in a statement.

However, India's oilmeal exports during April-July fell nearly 5 percent to 1.3 mln tonnes, the data showed.

With India's monsoon rains expected to be deficient in 2012, the government has launched contingency plans ensuring extra supplies of seeds and fodder.

The import duty on oil-cake has been waived to ease supplies to the domestic feed industry and producers of edible oils.

India's oilmeal exports in the 2011/12 fiscal year ending March 31, 2012 rose 8.9 percent from a year earlier to 5.52 million tonnes.

Source : economictimes.indiatimes.com

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