India oilmeal exports fall 28.5% in April-August
In short
India’s oilmeal exports fell 28.51% to 12.82 lakh tonnes in April-August of the current fiscal year.
The decline was led by a sharp drop in soybean meal exports, which fell 73% to 2,05,000 tonnes. The industry group said pricing pressure hurt Indian soybean meal shipments.
What the reporting says
India's oilmeal exports fell 28.51% to 12.82 lakh tonnes in the April-August period of the current fiscal year, the Solvent Extractors' Association of India said on Monday. The drop came as soybean meal sales slumped, with soybean meal exports plunging 73% to 2,05,000 tonnes from 7,57,000 tonnes a year earlier. The industry body said Indian soybean meal faced severe pricing pressure, weighing on shipments.
Why it matters
India's oilmeal exports dropped 28.51% in April-August to 12.82 lakh tonnes, down from 17.93 lakh tonnes a year earlier, according to the Solvent Extractors' Association of India. Soybean meal exports fell 73% to 2,05,000 tonnes, and the association linked the weakness to severe pricing pressure. The report says soybean meal lost ground to Brazil and Argentina, affecting the country's feed-export trade.