Agri Business

Indian oilmeals export up by 52% in April-May 2021-22

Our Bureau Mangaluru | Updated on June 18, 2021

South Korea was the major importer of Indian oilmeals

India exported 5.31 lakh tonnes of oilmeals in the first two months of the fiscal 2021-22 against 3.50 lakh tonnes in the same period a year ago, recording a growth of 52 per cent.

BV Mehta, Executive Director of Solvent Extractors’ Association of India (SEA), said the export of oilmeals increased sharply on the back of shipments of rapeseed meal during the period.

Export of rapeseed meal increased due to higher buying by South Korea and Thailand during the period.

The country exported 2.74 lakh tonnes of rapeseed meal during April-May against 1.65 lakh tonnes in the corresponding period of 2020-21. Of the total exports of rapeseed meal during April-May, exports to South Korea stood at 1.48 lakh tonnes and Thailand at 54,230 tonnes.

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Mehta said the export of soyabean meal showed slight improvement during the period due to the US purchases. India exported 92,139 tonnes of soybean meal during the first two months of the fiscal against 72,554 tonnes in the corresponding period a year ago. Of this, the US imported 30,703 tonnes and South Korea 9,840 tonnes.

He said ricebran extraction also performed better during the review period due to good demand from Vietnam and Bangladesh. India exported 1.16 lakh tonnes of ricebran extractions during April-May against 69,895 tonnes in the year-ago period. The country exported 59,008 tonnes of ricebran extract to Vietnam and 49,411 tonnes to Bangladesh during April-May of this year.

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South Korea was the major importer of Indian oilmeals during April-May of 2021-22. It imported 1.79 lakh tonnes (1.45 lakh tonnes) of oilmeals during the period.

Vietnam imported 85,559 tonnes (85,369 tonnes), Thailand imported 64,788 tonnes (12,316 tonnes), and Taiwan 14,167 tonnes (19,505 tonnes) of oilmeals during the period.

Published on June 18, 2021

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