India's February oilmeal exports down 33 percent

India's oilmeal exports fell 33 percent to 470,504 tonnes in February compared to a year ago, a leading trade body said on Tuesday, dragged down by a ban on the country's oilmeal imports by China. Soymeal exports, which account for the bulk of India's oilmeal sales, were at 329,180 tonnes in February, down 39 percent from a year ago, the Solvent Extractors' Association of India said in a statement.
Exports of rapeseed meal in February dropped by more than 45 percent to 79,932 tonnes as compared to 147,655 tonnes a year ago. "One main reason for the fall in oilmeal exports is a ban on imports by China. Rising prices of oilmeal have also impacted the demand," said Chowda Reddy, senior analyst at JRG Wealth Management.