India sees almost two-fold jump in oilmeals export in April-November: SEA

India's oilmeals export saw almost two-fold jump at 23.92 lakh tonnes during the April-November period of the current fiscal, on record export of rapeseed meal, according to the latest data released by the industry body SEA on Monday.

The country had exported 15.96 lakh tonnes of oilmeals in the same period last fiscal. Oilmeals are used as animal feed.

According to the Solvent Extractors Association of India (SEA), the export of soyabean extraction rose to 3.26 lakh tonnes during April-November period of the 2022-23 fiscal from 2.19 lakh tonnes in the year-ago period.

Similarly, there was a record rapeseed meal shipment at 14.76 lakh tonnes in the first eight months of the current fiscal, as against 7 lakh tonnes in the year-ago period.

The groundnut extraction shipment rose to 16,536 tonnes from 2005 tonne, while that ricebran extraction export declined to 3.37 lakh tonnes as against 4.49 lakh tonnes during the comparable period.

Export of castorseed meal rose marginally to 2.35 lakh tonnes in the first eight months of the current fiscal from 2.25 lakh tonnes in the year-ago period, the data showed.

Currently India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East countries.