Indian Economy News

Oilmeals export jumps over two-fold to nearly 4.32 lakh tonnes in June

  • IBEF
  • July 20, 2022

According to Solvent Extractors' Association (SEA) data, India's export of oilmeals increased by over two-fold in June to 431,840 tonnes due to a record shipment of rapeseed meal. SEA estimates that in the same month last year, shipments totaled 203,868 tonnes.

Rapeseed meal exports reached a record high of 308,549 tonnes in May thanks to increasing domestic production and processing, according to SEA.

Soybean meal exports reached 32,194 tonnes in June 2022, followed by groundnut meal at 707 tonnes, rice bran extraction at 64,025 tonnes, and castor seed meal at 26,365 tonnes.

The total export of oilmeals from April-June 2022 increased 39% to 1,021,265 tonnes from 735,892 tonnes the previous year.

India is currently the most competitive 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.