Riding on a sharp uptick in soyabean meal exports, India’s oil meal exports rose 6 per cent to 3.20 million tonnes in 2018-19 from 3.02 million tonnes in the previous year. Earnings increased 31 per cent to Rs 6,221.95 crore from Rs 4,761.80 crore.
According to the Solvent Extractors’ Association of India (SEA of India), soyabean meal exports went up to 1.33 million tonnes from 1.18 million tonnes during this period, mainly on account of robust demand from Iran.
“Iranian market has opened up for Indian soyabean meal. During 2018-19, the country exported 5 lakh tonnes of soyabean meal to Iran, as against last year’s quantity of 23,000 tonnes,” said BV Mehta, executive director, SEA of India.
The rise in exports of rapeseed meal also contributed to the growth of oil meal exports, increasing to 1.05 million tonnes from about 660,000 tonnes, primarily on account of orders from South Korea, Vietnam and Thailand.
Source :- Economictimes.indiatimes.com