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India’s soy meal exports increase by 51% during FY 2020-21

Soybean Meal
India
Published May 16, 2021

Original content

According to data compiled by the Solvent Extractors’ Association (SEA), Export of oilmeals increased 51% during 2020-21 with the value of export almost doubling during the period. Altogether oilmeals export was provisionally pegged at 36.80 lakh tonnes in April-March 2020-21 in comparison with 24.33 lakh tonnes during the same period last year, registering a growth of 51.21%. The overall earnings increased from Rs 4437 crore in 2019-20 to Rs 8838 crore in 2020-21, a growth of 99.18 per cent. BV Mehta, Executive Director of India, said that the export of oil meals performed much better during 2020-21 despite a continuous shortage of containers and less availability of rakes for neighboring countries. Stating that higher realization in the international market helped India to record nearly 100 percent growth in the value of exports, Mehta said this also helped the farmer realize better prices for his produce (oilseeds) in the domestic market. Soya bean crushing increased sharply, ...
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