Export of oilmeals in April-February rises 49%: SEA data

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March 20, 2021 2:00 AM

The overall export of oilmeals during April 2020 to February 2021 recovered sharply and stood at 3,358,649 tonne provisionally, against 2,256,614 tonne during the same period of the previous year, up by 49%, according to the association.

The revival of export to Iran also resulted in an overall surge in export of soybean meal in the last four months, BV Mehta, executive director, SEA, said.The revival of export to Iran also resulted in an overall surge in export of soybean meal in the last four months, BV Mehta, executive director, SEA, said.

Export of oilmeals jumped 205% year-on-year in February to 393,309 tonne, compared with 128,761 tonne, according to data compiled by the Solvent Extractors’ Association of India (SEA).

The overall export of oilmeals during April 2020 to February 2021 recovered sharply and stood at 3,358,649 tonne provisionally, against 2,256,614 tonne during the same period of the previous year, up by 49%, according to the association.

The export of soybean meal jumped mainly because of better realisations, thanks to lesser supply from Argentina and Brazil, coupled with good demand of non-GMO soybean meal from the US and Europe, the association said in a statement.

The revival of export to Iran also resulted in an overall surge in export of soybean meal in the last four months, BV Mehta, executive director, SEA, said.

According to the data, rapeseed meal export crossed a million tonne, owing to higher purchase by South Korea, followed by Thailand and Bangladesh. Ricebran extractions export doubled due to heavy demand from Vietnam and new demand from Bangladesh due to failure of the rice crop, Mehta said.

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