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Driven by strong demand for soyameal and groundnut meal, India’s oilmeal January exports surged 131 per cent over the same month last year to 165,980 tonnes.
The surge is attributed to the higher oilseed crop and price parity in the international market, which has revived the country’s oilmeal exports.
The overall export of oilmeals from April 2016 to January 2017 stood at 1,335,894 tonnes (1,300,465 tonnes), the Solvent Extractors Association of India (SEA) noted in its latest update. Among the major export destinations were South Korea, Vietnam and France, which imported 461,262 tonnes, 213,920 tonnes and 126,411 tonnes, respectively.
December 2016 soyameal exports were the highest for the 2016-17 period, at 241,250 tonnes. However, in January exports dropped to 155,160 tonnes, but continued to hold the largest — about 90 per cent share in total oilmeal exports.
Meanwhile, soyameal exports have shown sustained growth over the past year.
Exports stood at 601,270 tonnes for the April-January 2016-17 period, as against 330,690 tonnes in the April-January 2015-16 period.
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