Comments
India’s oilmeal exports have reported a 22 per cent increase for 2016-17 to 1,865,757 tonnes, against 1,529,115 tonnes last year, driven by soyabean meal exports.
According to data shared by the Solvent Extractors’ Association of India (SEA), the country exported 916,306 tonnes of soyameal in FY17, up 136 per cent over 387,298 tonnes in FY16.
In terms of value, the total earnings from oilmeal exports rose 22 per cent to ₹3,178 crore (₹2,600 crore).
Notably, the rupee is stronger now.
Soyameal exports have been reviving since November, when exports increased nearly three times to 97,750 tonnes, from 31,390 tonnes in the previous month.
The provisional figures for March showed soyameal exports at 107,059 tonnes, while the overall oilmeal exports during the month stood at 150,773 tonnes (106,122 tonnes), up 42 per cent. Among the key destinations for India’s oilmeal are South Korea, which imported 543,235 tonnes (including 167,760 tonnes of rapeseed meal, 366,805 tonnes of castor meal and 8,670 tonnes of soyabean meal), and Vietnam, which imported 328,348 tonnes from India.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.