India’s y-o-y export of oilmeal jumps 82% in March 2021

Economy


The Solvent Extractors’ Association of India has compiled the export data for export of oilmeals for the month of March 2021 and provisionally reported at 321,435 tons compared to 177,003 tons in March, 2020; up by 82%. The overall export of oilmeals during April 2020 to March 2021 increased sharply and provisionally reported at 3,680,084 tons compared to 2,433,617 tons during the same period of previous year i.e. up by 51%, a release issued by Solvent Extractors Association (SEA) said.

“Export of oil meals has surged in spite continuous shortage of containers and less availability of rakes for neighboring countries. Soybean crushing sharply increased driven by improved crush margin. The export of soybean meal jumped mainly due to better realization, thanks to lesser supply from Argentina and Brazil coupled with good demand of Non GMO soybean meal from U.S.A. and Europe and revival of export to Iran, lead to overall surge in export of soybean meal since October, when the new season begins,” said SEA release.

Rapeseed meal export crossed a million tons, thanks to higher purchase by South Korea, followed by Thailand and Bangladesh. “Ricebran extractions export more than doubled, thanks 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.8838 crores compared to Rs.4437 crores earned during previous year (2019-20), thanks to higher realization in the international market. This also helped farmers to realize better prices for his produce (oilseeds) in the domestic market,” said SEA.

Loading...

During April’20 to March ’21, South Korea imported 805,438 tons of oilmeals (compared to 873,242 tons); consisting of 466,194 tons of rapeseed meal, 280,582 tons of castorseed meal and 58,662 tons of soybean meal. Vietnam imported 533,776 tons of oilmeals (compared to 337,293 tons); consisting of 322,368 tons of De-oiled Rice Bran, 175,194 tons of rapeseed meal, 33,059 tons of soybean meal and 3,155 tons of groundnut meal. Thailand imported 203,134 tons of oilmeals (compared to 223,689 tons); consisting of 183,105 tons of rapeseed meal, 11,606 tons of soybean meal, 8,167 tons of rice bran extraction and 193 tons of groundnut meal. U.S.A. imported 227,716 tons of oilmeals (compared to 193,032 tons); consisting of 226,986 tons of soybean meal and a small quantity of 620 tons of rapeseed meal and 110 tons of castorseed meal. Bangladesh turned out to be a big importer of rapeseed meal, ricebran extraction and soybean meal. Bangladesh imported 450,583 tons of oilmeals (compared to 51,241 tons), consisting of 183,940 tons of rapeseed meal, 156,671 tons of ricebran extractions and 109,972 tons of soybean meal.



Source link

Articles You May Like

Peloton (PTON) Q3 2021 earnings
Eviction ban remains in effect as government appeals ruling
Here are the 2022 health savings account contribution limits
COVID: Rs 8 lakh crore package needed to support lower income groups, says report
States must refund unemployment benefits they clawed back in error

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading...