Earnings from oilmeal exports up 48% in 2017-18

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Pune | Published: May 9, 2018 2:08:10 AM

Earnings from oilmeal exports have increased 48% during the year 2017-18 at Rs 4,758 crore as compared to Rs 3,219 crore last year, revealed the data shared by the Solvent Extractors Association of India.

oilmeal, oilmealexports, south koreaSouth Korea imported 95,579 tonnes of oilmeals

Earnings from oilmeal exports have increased 48% during the year 2017-18 at Rs 4,758 crore as compared to Rs 3,219 crore last year, revealed the data shared by the Solvent Extractors Association of India (SEA).

The overall export of oilmeals in April 2018 dropped to 1,55,069 tonnes as against 2,03,698 tonnes in April 2017, while the export of rapeseed meal has sharply increased to nearly 1,00,000 tonnes, mainly to South Korea, SEA reported.

According to the data shared by the association, the overall export of oilmeals during the year (2017-18) has revived and reported at 30,25,538 tonnes as against 18,85,480 tonnes during the same period of last year (2016-17). In term of value, total earning increased by 48% to Rs 4,758 crore from Rs 3,219 crore in the corresponding period, thanks to higher export of rapeseed meal of 6,63,988 tonnes (up by 209%), ricebran extractions 5,94,129 tonnes (up by 77%) and castorseed meal 5,72,762 tonnes (up by 39%).

The export of rapeseed meal, de-oiled rice bran ,castorseed meal and groundnut meal service by SEA reached 18,37,720 tonnes (valued at Rs 1,850 crore) compared to 9,65,011 tonnes in 2016-17 (valued at Rs 984 crore), up by 90%. The soybean meal FOB prices have moved upward during the year by nearly $100 to $487 in April 2018.

During April 2018, Vietnam imported 8,381 tonnes of oilmeals (from 38,367 tonnes in year-ago period); consisting of 400 tonnes of soybean meal, 381 tonnes of rapeseed meal and 7,600 tonnes of de-oiled rice bran extraction.

South Korea imported 95,579 tonnes of oilmeals (from 11,639 tonnes in year-ago period); consisting 94,755 tonnes of rapeseed meal and 824 tonnes of soybean meal. Bangladesh imported 15,790 tonnes of soybean meal, while France procured 23,504 tonnes of oilmeals (from 1,144 tonnes in year-ago period); consisting 22,995 tonnes of soybean meal and 509

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