Indian Economy News

India's oilmeal exports rise 38.45% to 1.98 MT during April-October period: SEA

  • IBEF
  • November 18, 2022

According to Solvent Extractors Association of India (SEA), during April-October of FY 2022-23, the export of oilmeal, which is used as animal feed, increased by 38.45% YoY to 19.84 lakh tonnes. 14.33 lakh tonnes of oilmeal had been exported by the country during the same period last year.

Rapeseed meal exports doubled to 13.41 lakh tonnes during April-October in FY 2022-23 from 6.58 lakh tonnes during the same period last year, according to the Solvent Extractors Association of India (SEA).

Due to a record crop and crushing that led to the highest processing and availability of the commodity, exports of rapeseed meal increased significantly.

At US$ 295 per tonne FOB (freight on board), India is currently the most affordable supplier of rapeseed meal to South Korea, Vietnam, Thailand, and other Far Eastern nations. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.