NEW DELHI: According to a latest update from the Solvent Extractor’s Association (SEA) of India, the total export of oilmeals was reported at 148983 tonnes in July 2018, recording a spurt of 18.33% compared to July 2017. The overall export during April-July 2018 was reported at 898871 tonnes, up nearly 24% over the comparable period last year.
The SEA noted that export of rapeseed meal jumped sharply, recording a spurt of 90% in last three months due to strong demand from South Korea, Vietnam and Thailand. The ongoing trade dispute between US and China has created a lot of uncertainty and is forcing China to look out to other origins for their requirements of Soybean and oilmeals. This has compelled China to relook its ban imposed for importing oilmeals from India since 2012, according to the SEA.
POSTED BY Daily Shipping Times.