With sharp rise in shipment of rapeseed meal, Solvent Extractors Association of India (SEA) has said that India’s export of oilmeal, used as animal feed, rose 38.45 per cent to 19.84 lakh tonnes during the April-October period of the current fiscal. The country had exported 14.33 lakh tonnes of oilmeal in the same period of the previous financial year.
According to SEA, out of the total oilmeal exports, the shipment of rapeseed meal doubled to 13.41 lakh tonnes during the April-October period of the current fiscal, from 6.58 lakh tonnes in the year-ago period. Export of rapeseed meal rose sharply on account of a record crop and crushing that resulted in highest processing and availability of the commodity. Currently, it said India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East Countries at $295 per tonne FOB (freight on board), while rapeseed meal Hamburg ex-mill was quoted at $363 per tonne.
Export of groundnut extraction too rose to 9,632 tonnes during April-October of this fiscal, from 1,390 tonnes in the year-ago period. However, there was a decline in export of other oilmeal in the said period. Exports of soyabean extraction remained lower at 1.62 lakh tonne during April-October period of the 2022-23 fiscal, as compared to 1.76 lakh tonnes in the year-ago period. Similarly, export of rice bran extraction declined to 2.81 lakh tonnes from 4.01 lakh tonnes, while that of castorseed extraction shipments fell to 1.89 lakh tonnes from 1.96 lakh tonnes in the said period. Major exporting destinations were South Korea, Vietnam, Thailand, Bangladesh and Taiwan.
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