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India's April-October oilmeal exports up 38.45% to 19.84 lakh tonnes.
Nov 18, 2022

The country's export of oilmeal, used as animal feed, rose 38.45 per cent to 19.84 lakh tonnes during the April-October period of the current fiscal on sharp rise in shipment of rapeseed meal, industry body SEA said on Thursday. The country had exported 14.33 lakh tonnes of oilmeal in the same period of the previous financial year.
 
According to Solvent Extractors Association of India (SEA), out of the total oilmeal exports, the shipment of rapeseed meal doubled to 13.41 lakh tonnes during the April-October period of the current fiscal, from 6.58 lakh tonnes in the year-ago period.
 
Export of rapeseed meal rose sharply on account of a record crop and crushing that resulted in highest processing and availability of the commodity, it said.
 
Currently, India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East Countries at USD 295 per tonne FOB (freight on board), while rapeseed meal Hamburg ex-mill was quoted at USD 363 per tonne, it added.
 
Export of groundnut extraction too rose to 9,632 tonnes during April-October of this fiscal, from 1,390 tonnes in the year-ago period.
 
However, there was a decline in export of other oilmeal in the said period.
 
Exports of soyabean extraction remained lower at 1.62 lakh tonne during April-October period of the 2022-23 fiscal, as compared to 1.76 lakh tonnes in the year-ago period.
 
Similarly, export of rice bran extraction declined to 2.81 lakh tonnes from 4.01 lakh tonnes, while that of castorseed extraction shipments fell to 1.89 lakh tonnes from 1.96 lakh tonnes in the said period.
 
Major exporting destinations were South Korea, Vietnam, Thailand, Bangladesh and Taiwan.
    
economictimes.indiatimes.com

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