Soyameal boosts oilmeal exports in FY17

Posted by Daily Shipping Times on 11-04-2017        Tweet

AHMEDABAD: India’s oilmeal exports have reported a 22 per cent increase for 2016-17 to 1,865,757 tonnes, against 1,529,115 tonnes last year, driven by soyabean meal exports.

According to data shared by the Solvent Extractors’ Association of India (SEA), the country exported 916,306 tonnes of soyameal in FY17, up 136 per cent over 387,298 tonnes in FY16.

Soyameal exports have been reviving since November, when exports increased nearly three times to 97,750 tonnes, from 31,390 tonnes in the previous month.

The provisional figures for March showed soyameal exports at 107,059 tonnes, while the overall oilmeal exports during the month stood at 150,773 tonnes (106,122 tonnes), up 42 per cent. Among the key destinations for India’s oilmeal are South Korea, which imported 543,235 tonnes (including 167,760 tonnes of rapeseed meal, 366,805 tonnes of castor meal and 8,670 tonnes of soyabean meal), and Vietnam, which imported 328,348 tonnes from India.