Export of oilmeals jumped by 205 per cent in February 2021 to 393,309 tonnes, compared with 128,761 tonne in February 2020, according to data compiled by the Solvent Extractors’ Association of India (SEA).
For the eleven-month period between April 2020 to February 2021, the overall export of oilmeals recovered sharply and stood at 3,358,649 tonnes provisionally, against 2,256,614 tonne during the same period of the previous year, up by 49 per cent, according to the association.
The export of soybean meal jumped mainly because of better realisations, thanks to lesser supply from Argentina and Brazil, coupled with good demand of non-GMO soybean meal from the US and Europe, the association said in a statement.
The revival of export to Iran also resulted in an overall surge in export of soybean meal in the last four months, BV Mehta, executive director, SEA, said.
According to the data, rapeseed meal export crossed a million tonnes, owing to higher purchase by South Korea, followed by Thailand and Bangladesh. Ricebran extractions export doubled due to heavy demand from Vietnam and new demand from Bangladesh due to failure of the rice crop in the neighbouring country, Mehta said.