Tuesday, March 21, 2023

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India’s oilmeal exports increased by 40% in current fiscal year

New Delhi: India’s exports of oilmeal during the first half of the current fiscal year, from April to September, were 39% higher than they had been the previous year at about 1.77 million tonnes, According to data compiled by the organisation representing the vegetable oil industry, The Solvent Extractors’ Association of India (SEA).

The export of oilmeals during the same period last fiscal year was 1.27 million tonnes. Oilmeals, which are frequently used as livestock feed, are essentially the residue that remains after oil is extracted from oilseeds.

SEA data shows

According to SEA data, oilmeal shipments in September were provisionally estimated at 240,669 tonnes, up from 183,837 tonnes in September 2021.

Some of India’s top oilmeal export destinations are South Korea, Vietnam, Thailand, Bangladesh, and Taiwan.

Data showed that during April to September 2022, Thailand imported 358,191 tonnes, Vietnam imported 311,046 tonnes, Bangladesh sourced 178,017 tonnes, and Taiwan imported 61,838 tonnes of oilmeals.

Increased by double

The export of rapeseed meal has increased by double to 1,24 tonnes from 605,355 tonnes during the same period previous year, which the industry organisation ascribed to a record rapeseed production and crushing that led to the greatest processing and availability of rapeseed meal for exports.

It added that Indian soybean meal has the advantage of being a non-GM variety and is favoured in several European Countries. “There is likely, starting with a fresh season from November, the export of soybean meal from India would ramp up post-Diwali,” it said.

Exports from different ports

Regarding exports from different ports, Kandla is claimed to have exported 663,311 tonnes (37%) followed by Mundra at 515,981 tonnes (29%) Mumbai, comprising JNPT, handled 91,732 tonnes (5%), Kolkata handled 173,130 tonnes ( 10%), and other ports handled 327,525 tonnes (18 per cent).


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