Tridge summary
India's oilmeal exports experienced a significant increase of 51.44% in the 2020-21 fiscal year, reaching 36.8 lakh tonnes with a value of Rs 8,850 crore, as per the Solvent Extractors’ Association (SEA). This surge was primarily driven by a substantial rise in the export of soybean meal and rapeseed meal, which increased to 15.64 lakh tonnes and 11.13 lakh tonnes respectively, from the previous year. Rice bran extension also saw a notable growth in exports. However, the export of castor seed meal decreased to 4.19 lakh tonnes from 5.38 lakh tonnes. The first half of the 2021-22 fiscal year is anticipated to see lower export performance for soybean meal due to high domestic prices, while the export of rapeseed meal is expected to remain stable. Southeast Asia, the Middle East, Europe, and the US are the primary markets for Indian oilmeals.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The country’s oilmeal exports rose 51.44 per cent to 36.8 lakh tonne in 2020-21 from 24.3 lakh tonne in the previous year, on sharp rise in soybean meal shipments, according to industry body SEA. In terms of value, export of oilmeals nearly doubled to Rs 8,850 crore from Rs 4,450 crore in the said period.Oilmeals are used as animal feed in poultry and other sectors. According to the latest data released by the Solvent Extractors’ Association (SEA), soybean meal export rose to 15.64 lakh tonne in 2020-21 from 6.92 lakh tonne in the previous year. Similarly, rapeseed meal exports rose to 11.13 lakh tonne from 9.61 lakh tonne, while the shipment of rice bran extension rose to 5.76 lakh tonne from 2.36 lakh tonne in the said period. “India exported a record quantity of 5.76 lakh tonne of rice bran extraction during 2020-21, thanks to new demand from Bangladesh due to failure of their rice crop,” SEA said. However, export of castor seed meal declined to 4.19 lakh tonne in 2020-21 from ...
Source: Financialexpress
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