Oilmeals export jumps over 2-fold to nearly 4.32 lakh tonnes in June

India's oil meals export jumped over two-fold in June to 4,31,840 tonnes on record shipment of rapeseed meal, according to industry data.

The exports stood at 2,03,868 tonnes in the same month last year, according to the Solvent Extractors' Association (SEA) of India.

''Export of oil meals for June 2022 provisionally reported at 431,840 tonnes, compared to 203,868 tonnes in June 2021,'' the association said in a statement.

SEA highlighted that there was a record export of rapesmealsmeal last month at 3,08,549 tonnes on increased domestic output as well as processing.

In June 2022, the exports of soybean meal stood at 32,194 tonnes, groundnut meal at 707 tonnes, rice bran extraction at 64,025 tonnes, and castor seed meal at 26,365 tonnes.

As per the SEA data, the overall export of oil meals during April-June 2022 rose 39 percent to 10,21,265 tonnes as compared to 7,35,892 tonnes in the year-ago period.

In the first three months of the current fiscal year (2022-23), SEA said the export of rapeseed meals has increased to 7,06,904 tonnes compared to 3,84,807 tonnes.

At present, SEA said that India is the most competitive supplier of rapeseed meals to South Korea, Vietnam, Thailand, and other far east countries.

In the case of soybean meal, the association pointed out that India is still outpriced in the international market.

Among major importers, SEA said that, from April-June 2022, South Korea imported 3,38,800 tonnes of oil meals, as compared to 2,52,063 tonnes in the corresponding period of the previous year.

Vietnam imported 184,423 tonnes from April-June 2022, as against 1,14,934 tonnes in the year-ago period.

India's exports to Thailand rose 75 percent to 1,34,801 tonnes from 77,003 tonnes, while shipments to Bangladesh grew 38 percent to 125,440 tonnes from 90,589 tonnes.

The country's export to Taiwan rose 69 percent in April-June 2022 to 40,369 tonnes from 23,944 tonnes in the corresponding period of the previous year.