Exports of oilmeal rise 23% to 2.5 lakh tonne in May

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Published: June 23, 2020 5:20 AM

The rise in exports is attributed to the sharp increase in rapeseed meal exports at 1,44,244 tonne, nearly double from 72,895 tonne recorded in May 2019.

During the two months under review, oilmeal exports to key markets had reported a decline, the data revealed.During the two months under review, oilmeal exports to key markets had reported a decline, the data revealed.

India recorded a 23 % rise in oilmeal exports in May, as compared to the same month last year. As per provisional data released by the Solvent Extractors’ Association of India (SEA), export of oilmeals in May is reported at 2,47,879 tonne as compared to 2,01,768 tonne in May 2019.

The rise in exports is attributed to the sharp increase in rapeseed meal exports at 1,44,244 tonne, nearly double from 72,895 tonne recorded in May 2019.

The overall export of oilmeals during the first two months of this fiscal — April and May — provisionally stood at 3,49,880 tonne, about 23% lower as compared to 4,56,353 tonne in the corresponding period last year.

During the two months under review, oilmeal exports to key markets had reported a decline, the data revealed.

Indian oilmeal imports by Thailand dipped by over 81% to 12,316 tonne for April-May as against 65,584 tonne in the same period last year.

South Korea imported 16% less oilmeal at 1,45,772 tonne as compared to 1,73,475 tonne, while Vietnam imported 85,092 tonne of oilmeals, about 18 % lower than the 71,829 tonne it did last year.

Oilmeal exports to the US also fell to 28,217 tonne from 33,092 tonne in the same period in the previous year.

Significantly, export of rice bran extracts increased to 69,895 tonne during the period, as against 50,580 tonne reported last year.

Soyabean meal exports were recorded at 72,554 tonne for the period, as against 94,101 tonne in the same months last year.

Castor seed meal exports plunged heavily from 1,18,056 tonne in April-May 2019 to 41,694 tonne in April-May 2020.

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