Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

India's July Soymeal Exports Plunge 59 Per Cent Y/Y To Near Three-Year Low: Trade Body

The country exported 26,006 tonnes of soymeal in July, the lowest since September 2016, and down from 63,748 tonnes a year earlier, according to provisional data compiled by the Solvent Extractors' Association (SEA).

Photo Credit : Bloomberg

1493793502_oYpZtQ_Mumbai-port_Bloomberg-870.jpg

India's soybean meal exports in July plunged 59% from a year ago to the lowest level in nearly three years as key buyers curtailed purchases due to higher prices, a leading trade body said on Tuesday.

The country exported 26,006 tonnes of soymeal in July, the lowest since September 2016, and down from 63,748 tonnes a year earlier, according to provisional data compiled by the Solvent Extractors' Association (SEA).

The drop pulled down the country's total oil meal exports to 166,301 tonnes in July, 23% lower than a year ago, the association said in a statement.

Indian soymeal is nearly 20% expensive compared to shipments from rival South American countries, said a Mumbai-based exporter, adding that "even in August exports would fall sharply."

New Delhi mainly exports soymeal to Iran, Nepal, and Japan.

(Reuters)


sentifi.com

Top themes and market attention on: