Agri Business

Oilmeal exports surge 75% in April-May

Rutam Vora Ahmedabad | Updated on January 12, 2018 Published on June 07, 2017

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SEA data shows soymeal, rapeseed meal exports reported sharp growth



Supported by the sharp rise in exports of soybean meal and rapeseed meal, India's total oilmeal exports for the April-May period surged 75 per cent to 301,569 tonnes from 171,932 tonnes in the same period last year.

The Solvent Extractors’ Association of India (SEA) has reported India’s oilmeals exports for the month of May at 97,871 tonnes as compared to 57,954 tonnes in the same month last year, showing a growth of 69 per cent.

However, the data showed a decline in exports of ricebran extract from 91,767 tonnes to 37,249 tonnes for the period under review, while castor seed meal exports fell from 40,217 tonnes to 13,449 tonnes.

In fiscal year 2016-17, overall oilmeal exports stood at 1.86 mt as against 1.53 mt in the previous year.

Vietnam offtake down

Vietnam, one of the largest importers of India’s oilmeals, cut imports to 45,031 tonnes as compared to 82,912 tonnes for the April-May 2016-17 period. South Korea, too, reduced its imports of Indian oilmeals from 48,851 tonnes to 39,881 tonnes.

In last two months the export of oilmeals improved compared to the previous year, thanks to a good monsoon, better oilseed production and price parity.

In percentage terms, exports are showing improvement, but are still lower than earlier years. It may be also noted that India faced droughts in 2014-15 and 2015-16, which led to lower production of oilseeds, affecting export of oilmeals, said the SEA statement.

Published on June 07, 2017
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