Oilmeals export increased by 38% during April­-Oct

India recorded a surge of almost 38% in total oil meal exports from April through October of FY23 thanks to a more than 100% increase in the export of rapeseed meals. The country exported 19.84 lakh tonnes (lt) of oil meals between April and October of 2022–23, compared to 14.33 lt during the same period of FY22, marking an increase of 38.43 percent, according to the Solvent Extractors’ Association of India (SEA). In October 2022, the nation exported 2.13 lt (1.57 lt) of oil meals, an increase of 35.26 percent from the previous year. The export of rapeseed meals, according to BV Mehta, Executive Director of SEA of India, was 13.41 lt over the first seven months of FY23 compared to 6.58 lt in April-­October of 2021­-22.

As a result, the export of rapeseed meals increased by 103.85%. He ascribed this expansion to crushing and a record rapeseed production. As a result, rapeseed meals were processed and made available for export in the maximum amounts. At a price of $295 a tonne, he claimed that India is the most competitive supplier of rapeseed meals to South Korea, Vietnam, Thailand, and other countries in the far east (f.o.b). Rapeseed meal is now listed at $363 per tonne (f.o.b. Hamburg). In comparison to the previous fiscal year, soyabean meal exports from India decreased by 7.92%, from 1.76 lt in April to 1.62 lt in October.

India exported 40,196 tonnes of soyabean meal in October compared to 13,718 tonnes in September, a 193.02 percent increase. In the upcoming months, he predicted that soyabean meal exports from India will take up and swiftly rise. In several European countries, the non-GM variety of Indian soyabean meal is chosen because of its additional benefits. India’s export of rice-bran extraction fell to 2.81 lt (4.01 lt) in the first seven months of FY23, a 29.95 percent fall. Between April and October of FY23, India exported 1.89 lb compared to 1.96 lb during the same time period the previous year, a decrease of 3.36 %.

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