India's oilmeals export fell 21 per cent to Rs 12,171 crore last fiscal mainly due to decline in sales volumes by 11 per cent, according to data compiled by Solvent Extractors' Association of India (SEA).
In a statement on Friday, edible oil industry body SEA said the total export of oilmeals in 2024-25 fiscal fell 11 per cent to 43,42,498 tonnes compared to 48,85,437 tonnes in the preceding year.
This was mainly due to reduction in export of rapeseed meal & castorseed meal, it added.
In terms of value, the exports decreased 21 per cent to Rs 12,171 crore in 2024-25 from Rs 15,368 crore in the preceding year, said B V Mehta, Executive Director of SEA.
Bangladesh in spite of political turbulences become a largest importer of Indian oilmeals. India exported 7.42 lakh tonnes to Bangladesh in 2024-25, down 17 per cent from 892,659 tonnes in the preceding year.
South Korea become the second largest importer of Indian oilmeals. India exported 6.99 lakh tonnes of oilmeals last fiscal, down 16 per cent from 2023-24 fiscal.
Thailand become the third largest importer of Indian oilmeals. It imported 4.48 lakh tonnes of oilmeals in 2024-25 fiscal, which is 25 per cent down from 632,734 tonnes in the preceding year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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The commerce ministry's investigation arm DGTR has issued final findings in as many as 13 anti-dumping cases, mostly against China, in March, according to the commerce ministry.
The ministry also said that in addition to this, the Directorate General of Trade Remedies (DGTR) has started 11 investigations in March.
The final findings have been issued against dumping of products such as vitamin-A palmitate, insoluble sulphur, aluminium foil, plastic processing machines, digital offset printing plates and decor paper.
Out of the 13 cases, 12 are against China. The other countries included in these probes include European Union, Japan, Taiwan, Russia, and Thailand.
DGTR, under the commerce ministry, is the apex authority for administering all trade remedial measures, including antidumping, countervailing duties and safeguard measures. These measures help deal with the rising incidences of unfair trade practices and to provide a level playing field to the domestic industry.
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The role of the directorate has become crucial in the backdrop of sweeping tariffs imposed by the US and China on each other, as high import duties are making goods more expensive in both countries. And this would lead to diversion of goods into countries like India.
While the US has imposed 245 per cent against China. In retaliation, Beijing has slapped 125 per cent tariff on goods coming from Washington.
The government has set up an inter-ministerial import surge monitoring group to strictly monitor imports.
In the last fiscal, India's exports to China contracted 14.5 per cent to USD 14.25 billion as against USD 16.66 billion in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to USD 113.45 billion against USD 101.73 billion in 2023-24.
The trade deficit with China has widened by about 17 per cent to USD 99.2 billion in the last fiscal from USD 85.07 billion in 2023-24.
China continued to be the second largest trading partner of India with USD 127.7 billion two-way commerce in 2024-25 as compared to USD 118.4 billion in 2023-24.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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