Export of oilmeals seen lower in H1

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In view of Indian soymeal being outpriced in the global market, export of oilmeals could be lower in the first half of the current financial year, said Solvent Extractors Association of India (SEA). Indian soymeal was outpriced mainly due to soybean prices rising to a record of over Rs 7,700 a quintal. Between February and April, soymeal price increased by over $200 a tonne, making Indian exports unviable in the global market. Export of soymeal declined to 39,750 tonnes in April 2021, from 1.46 lakh tonnes in March 2021 and 2.47 lakh tonnes in February 2021, as per a report.