According to figures published by the Solvent Extractors’ Association of India (SEA), India’s total oilmeal exports from April to October of this year were 38% more than they were in previous year.
In the last fiscal, amount of oil meals exported over the same period was 1.43 million tonnes. Oilmeals, which are frequently used as livestock feed, are essentially the residue that remains after oil is extracted from oilseeds.
Provisional figures for October show that the commodity’s shipments increased by 35% to 213,154 tonnes from 157,590 tonnes in the same month previous year.
It is crucial to remember that owing to a record crop and crushing which produces the highest processing, the availability of rapeseed meal for exports has more than quadrupled to 1.34 million tonnes in 2022–2023 from 658,230 tonnes at the same time last year.
According to the organisation representing the vegetable oil industry, India is now the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand, and other nations in the far east. These three nations are the top three importers of Indian oil meals.