India's oilmeal exports have dropped 55 per cent year-on-year in October, said the Solvent Extractors Association of India (SEA). The country exported 105,085 tonnes of oilmeal during the month this year against 233,867 tonnes in October 2018, said SEA.
Published: undefined
According to the Association, oilmeal exports from the country have seen a continuous decline this year.
Published: undefined
India exported 13,92,564 tonne oil meal between April and October, a drop of 24 per cent against the 17,32,916 tonne oilmeal exported over the same period last year.
Published: undefined
SEA said high minimum support price (MSP) of soybean in the country leads the Indian soybean oilmeal to become costlier than that of other countries. "This is the reason our oilmeal is losing out in competition from other countries," it added.
Published: undefined
Follow us on: Facebook, Twitter, Google News, Instagram
Join our official telegram channel (@nationalherald) and stay updated with the latest headlines
Published: undefined