India's oilmeal exports fell 28.51% as soybean meal sales plunged 73%
GS3Economy · S&T · Environment · Security· External sector, trade & FDI· Prelims·
Trade dynamics and logistics costs: a GS3 case study on India's export competitiveness.
Why in news
The Solvent Extractors' Association of India (SEA) reported a 28.51% decline in India's oilmeal exports during the April-August period of the current financial year.
Background
India's oilmeal exports fell to 12.82 lakh tonnes between April and August. The decline was primarily driven by a 73% plunge in soybean meal sales due to international pricing pressure and cheaper South American supplies.
Facts for Prelims
- FactOilmeal exports fell by 28.51% to 12.82 lakh tonnes in the April-August period.
- FactSoybean meal sales plunged by 73% during the same period.
- BodySolvent Extractors' Association of India (SEA) is the body reporting the export data.
- FactHigh maritime freight costs and strong domestic demand were cited as constraints on outbound shipments.
Prelims practice question
With reference to India's oilmeal exports, consider the following statements:
- The Solvent Extractors' Association of India (SEA) reported the export data.
- Soybean meal sales plunged by 43% due to international pricing pressure.
- Oilmeal exports fell by 28.51% during the April-August period.
Which of the statements given above is/are correct?
- (a)1 only
- (b)1 and 3 only
- (c)2 and 3 only
- (d)1, 2 and 3
Show answer
Answer: (b) 1 and 3 only — Statements 1 and 3 are correct. Statement 2 is incorrect: Soybean meal sales plunged by 73%.
For Mains
Q. Analyze the factors affecting India's competitiveness in the global oilmeal market and suggest measures to bolster the export of oilseeds and their derivatives.
Dimensions to cover in your answer
- Price volatility: Impact of cheaper South American soybean meal on Indian export competitiveness
- Logistics bottleneck: High maritime freight costs affecting the cost-effectiveness of outbound shipments
- Demand-supply friction: Balancing rising domestic consumption with export targets for oilmeal
Keywords: Trade Deficit · Comparative Advantage · Logistics Costs · Commodity Pricing · Export Dynamics
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