June 22, 2024

Oilmeals exports rose 16% to 12.20 lakh tonne in December quarter

The nation’s oilmeals exports rose 16 per cent to 12.20 lakh tonne within the third quarter of the present fiscal in comparison with the year-ago interval, business physique SEA mentioned on Thursday.

Round 10.53 lakh tonne of oilmeals was exported through the October-December quarter of 2022-23.

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In line with the Solvent Extractors Affiliation of India (SEA), the nation exported 6.24 lakh tonne of soybean meal, 4.79 lakh tonne of rapeseed meal, 1.14 lakh tonne of castor seed meal and a couple of,642 lakh tonne of groundnut meal in third quarter of the present fiscal.

In December alone, whole oilmeals exports have been at 5.32 lakh tonne, up by 23 per cent from 4.33 lakh tonne within the year-ago interval, it mentioned.

SEA mentioned the nation’s export of soyameal rose as a consequence of worth competitiveness amid scarcity of Argentine export provides in latest months.

The foremost client of Indian soybean meal is South East Asia, the place India has a logistic benefit and likewise can provide in small tons, it added.

The business physique additionally talked about that the export of rapeseed meal had touched a brand new report of twenty-two.96 lakh tonne throughout 2022-23 fiscal, ever highest since export began.

The pattern of export of rapeseed meal continued within the present yr as 18.24 lakh tonne was exported throughout April-December of this fiscal in contrast with 16.69 lakh tonne within the year-ago interval.

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Presently, India is probably the most aggressive provider of rapeseed meal to South Korea, Vietnam, Thailand and different far east international locations, SEA mentioned.

Complete oilmeals rose 24 per cent to 34.96 lakh tonne throughout April-December of the present fiscal from 28.16 lakh tonne within the year-ago interval, the SEA added.

South Korea, Vietnam, Thailand, Bangladesh, and Taiwan are the principle export locations for India for oilmeals.