COMMODITY
India’s oilmeals exports rise 5% in October
Nov-16-2024

The Solvent Extractors Association of India (SEA) said that India’s oilmeals exports rose 5 per cent to 3.05 lakh tonnes in October compared to 2.89 lakh tonnes in the year-ago period. However, during the April-October period of the 2024-25 fiscal year, the overall oilmeal exports declined 7 per cent to 23.88 lakh tonnes against 25.66 lakh tonnes in the corresponding period last year, primarily due to lower shipments of rapeseed and castorseed meals.

Rapeseed meal exports dropped to 1.60 lakh tonnes in October from 1.69 lakh tonnes a year ago. India, traditionally a major exporter of rapeseed meal as cattle feed, shipped about 22 lakh tonnes in the 2023-24 fiscal year, helping farmers secure better prices. Rapeseed meal exports have fallen 25 per cent in the first seven months of the current fiscal to 11.8 lakh tonnes from 15.1 lakh tonnes in the year-ago period.

Soyabean meal exports increased to 1.14 lakh tonnes in October from 87,060 tonnes a year ago. In April to October 2024, the export of Soyabean meal jumped and reported at 10.23 lakh tonnes compared to 6.74 lakh tonnes of the same period of last year on the back of higher import by U.A.E., Iran and France.

Groundnut extraction shipments rose to 2,733 tonnes from 1,990 tonnes. Castorseed meal exports declined to 27,960 tonnes from 31,469 tonnes a year earlier. Major export destinations include South Korea, Vietnam, Thailand, Bangladesh, Iran, and Taiwan.

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