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The Solvent Extractors' Association of India has compiled the export data for export of oilmeals for the month of Dec., 2024 provisionally reported at 398,731 tons compared to 532,729 tons in Dec., 2023 i.e. down by 25%. The overall export of oilmeals during April to Dec., 2024 reported at 3,150,678 tons compared to 3,496,771 tons during the same period of last year i.e. down by 10%, mainly due to reduction in export of rapeseed meal, castorseed meal. In the first nine months of the current year (April to Dec., 2024) the export of soybean meal increased and reported at 14.85 lakh tons compared to 12.11 lakh tons of the same period of last year, thanks to higher import by European buyers, such as Germany and France. However, in recent months with increased supply of soybean meal in world market, Indian soybean meal is facing severer competition, as crushing till end of December was lower, result into drop in production of soyameal and consumption and export likely to slow down in coming months. Powered by Capital Market - Live News
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