Mumbai, 17 Apr (Commoditiescontrol): India's oilmeal exports reached an all-time high in the 2023-24 fiscal year, totaling 4,885,437 tons at a value of Rs. 15,370 crores. This marks a 13% increase in quantity and a substantial 35% increase in value over the previous year, according to data released by the Solvent Extractors' Association of India (SEA).
This significant growth is led by a dramatic surge in soybean meal exports, which more than doubled to reach 21.33 lakh tons. India benefited from competitive international pricing, although it faces competition from Argentina, whose soybean meal is currently offered at a lower rate.
Rapeseed meal exports remained largely stable at 22.13 lakh tons, a slight decrease from the previous year. Increased domestic rapeseed production likely contributed to this stability, according to the SEA.
The Indian government has extended its ban on De-oiled Rice Bran exports until July 31, 2024. This decision has ramifications for rice bran processors in Eastern India, potentially affecting their business viability.
Bangladesh leads as the top importer of Indian oilmeals, purchasing significant quantities of rapeseed meal, soybean meal, and De-oiled rice bran. South Korea and Thailand are also major importers.
The ports of Kandla and Mundra handled the highest volumes of oilmeal exports, with Kandla alone processing 16.33 lakh tons.
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
