Updated: April 20, 2021 11:02:17 pm
Oilseed meal exports from India have grown by 51 per cent between April 1, 2020 and March 31, 2021. A press statement issued by the Solvent Extractors’ Association of India on Monday said India had exported 36.80 lakh tonnes of oilmeal in the last fiscal as compared to 24.33 lakh tonnes in financial year 2019-21.
Oilmeal or oilseed meal cake refers to the protein rich substance left after oil is expelled from the seed. For the poultry and animal feed industry, oilseed cakes form the raw material needed as the protein component in feed. Given the non-GM nature of Indian oilseed meals, they fetch a premium in international markets.
By far the largest share of exports was cornered by soyameal cake with India exporting 15.64 lakh tonnes in the 2020-21 fiscal as compared to 6.92 lakh tonnes in the last fiscal. The press release said soyabean crushing has increased, driven by improved crush margin and better realisation due to lower supply from Argentina and Brazil. Revival of exports to Iran has led to an overall surge since October.
Similarly, rapeseed meal export crossed a million tonnes, due to higher purchase by South Korea, followed by Thailand and Bangladesh. Ricebran Extractions export more than doubled, due to heavy demand from Vietnam and new demand from Bangladesh due to failure of their rice crop. The overall earning jumped to double at Rs 8,838 crore compared to Rs 4,437 crore in the previous year (2019-20), due to higher realisation in the international market. This also helped farmers realise better price for their produce (oilseeds) in the domestic market. The export of soybean meal revived and doubled, while Rice bran Extraction jumped two-and-a-half times in the previous year.
South Korea has emerged as a major importer of Indian oilmeals with 8.05 lakh tonnes import in the last fiscal. Bangladesh has become a big importer of rapeseed meal, ricebran extraction and soyabean meal cake.
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