Economy News

According to a latest update from the Solvent Extractors' Association of India (SEA), the export of oilmeals for the month of June, 2024 is provisionally reported at 335,196 tons compared to 280,001 tons in June 2023 i.e. down by 20%. The overall export of oilmeals during April to June 2024 reported at 1,102,632 tons compared to 1,210,045 tons during the same period of last year i.e. down by 9%, mainly due to reduction in export of rapeseed meal, castorseed meal and no export of De-oiled Rice Bran since September, 2023 due to export prohibition. SEA noted that the De-oiled Ricebran prices now are at the lower level and likely to go down further with increased availability of DDGS. In view of the above facts and sharp fall in prices of De-oiled Ricebran, the Association has once again appealed to the Government not to extend the prohibition beyond 31st July, 2024.

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