Oilmeal exports surge 23% in May

  • 22-Jun-2020
  • Oilmeal exports surge 23% in May

India recorded a 23-per cent rise in oilmeal exports in May, as compared to the same month last year. As per provisional data compiled by the Solvent Extractors’ Association of India (SEA), export of oilmeals in May is reported at 2,47,879 tonnes as compared to 2,01,768 tonnes in May 2019.

The rise in exports is attributed to the sharp increase in rapeseed meal exports at 1,44,244 tonnes, nearly double from 72,895 tonnes recorded in May 2019.

The overall export of oilmeals during the first two months of this fiscal — April and May — provisionally stood at 3,49,880 tonnes, about 23 per cent lower as compared to 4,56,353 tonnes in the corresponding period last year.

Data showed that during the two months under review, oilmeal exports to key markets had reported a decline. Indian oilmeal imports by Thailand dipped by over 81 per cent to 12,316 tonnes for April-May as against 65,584 tonnes in the same period last year.

South Korea imported 16 per cent less oilmeal at 1,45,772 tonnes as compared to 1,73,475 tonnes, while Vietnam imported 85,092 tonnes of oilmeals, about 18 per cent lower than the 71,829 tonnes it did last year. Oilmeal exports to the US also fell to 28,217 tonnes from 33,092 tonnes in the same period in the previous year.

Notably, export of rice bran extracts increased to 69,895 tonnes during the period, as against 50,580 tonnes reported last year.

Soybean meal exports were recorded at 72,554 tonnes for the period, as against 94,101 tonnes in the same months last year.

Castor seed meal exports plunged heavily from 1,18,056 tonnes in April-May 2019 to 41,694 tonnes in April-May 2020.

Source:- Thehindubusinessline.com

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