Oilmeal exports rise 54% during April-July

By: | Updated: August 10, 2017 4:20 AM

India’s overall oilmeal exports have reported an increase of 54% for the April-July period at 638,468 tonne, against 413,341 tonne reported in the same period last year.

Oilmeal, Oilmeal exports, Oilmeal export rise, Oilmeal news, Oilmeal exports india, Oilmeal exports surgeData compiled by the Soybean Processors Association of India (SOPA) show that the country’s soybean meal exports for the four-month period stood at 4.69 lakh tonne compared with 1.19 lakh tonne in the same period of the previous year.

India’s overall oilmeal exports have reported an increase of 54% for the April-July period at 638,468 tonne, against 413,341 tonne reported in the same period last year. Data compiled by the Soybean Processors Association of India (SOPA) show that the country’s soybean meal exports for the four-month period stood at 4.69 lakh tonne compared with 1.19 lakh tonne in the same period of the previous year, showing a surge of 292% on a year-on-year basis.

Overall oilmeal exports registered a growth of 54% for the period under review. “In the last three months, the export of oilmeals improved compared to the previous year, thanks to a good monsoon, better oilseeds production and price parity,” Solvent Extractors’ Association of India (SEA) executive director BV Mehta said.

“In percentage terms, exports are showing an improvement, but are still lower compared to earlier years,” he added. Significantly, the country faced droughts in 2014-15 and 2015-16, which led to lower production of oilseeds, bringing down exports to a low level. However, the good monsoon last year saw exports revive to some extent, he pointed out. SOPA, however, maintained that during the current oil year

(October 2017—September 2017), total soymeal exports from October 2016 to July 2017 stood at 16.46 lakh tonne against 3.48 lakh tonne during the same period last year, registering an increase.

of 372.72%.According to SOPA, the export of soybean meal and its other value-added products during July 2017 has been pegged at 0.98 lakh tonne compared with 0.29 lakh tonne in July 2016, showing an increase of 235% over the same period of last year. On a financial year basis, export during April 2017 to July 2017 was 4.69 lakh tonne, compared with 1.19 lakh tonne in the same period of the previous year, showing an increase of 292%, SOPA has said.

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