Oilmeals export increases by 10% in April: SEA

Solvent Extractors' Association of India (SEA) has said oilmeals export increased by 10 per cent in April to nearly 3.34 lakh tonnes on higher shipments of rapeseed meal. It said the export of oilmeals in April 2022 is provisionally reported at 3,33,972 tonnes compared to 3,03,705 tonnes in the same month last year.

Rapeseed meal exports increased to 2,29,207 tonnes during April from 93,984 tonnes in March 2022. SEA pointed out that the exports of oilmeals fell to 23.8 lakh tonnes last fiscal year from 36.8 lakh tonnes in previous year. In term of value, exports declined to Rs 5,600 crore from Rs 8,900 crore in 2020-21.

In the current year (2022-23), the exports of oilmeals are likely to be lower. India is totally out priced in the international market in the case of soyabean meal due to high price of soybean in the domestic market. South Korea, Vietnam, Thailand, Bangladesh and Taiwan are the major importers of Indian oilmeals.