Oilmeal exports in July dropped by 63 per cent backed by the lesser demand from markets all over the world.
According to data collected by the Mumbai-based Solvent Extractors’ Association (SEA), total exports during the month reduced to 173,329 tonnes as compared to 474,590 tonnes druing the corresponding month of previous year.
In the first four months of the current financial year, cattlefeed shipments fell 59 per cent to 787,857 tonnes as compared to 1,908,396 tonnes in the same period last year. According to the B V Mehta, executive director, SEA, India’s poor performance is due to the worsening demand in Southeast Asian countries as they were the major importers of Indian meal. Mehta also held responsible the government’s indicative suspension of oilseed exports early July that hampered sentiments in overseas markets for two-three days.
According to data collected by the Mumbai-based Solvent Extractors’ Association (SEA), total exports during the month reduced to 173,329 tonnes as compared to 474,590 tonnes druing the corresponding month of previous year.
In the first four months of the current financial year, cattlefeed shipments fell 59 per cent to 787,857 tonnes as compared to 1,908,396 tonnes in the same period last year. According to the B V Mehta, executive director, SEA, India’s poor performance is due to the worsening demand in Southeast Asian countries as they were the major importers of Indian meal. Mehta also held responsible the government’s indicative suspension of oilseed exports early July that hampered sentiments in overseas markets for two-three days.
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