According to the data compiled by The Solvent Extractors’ Association of India (SEA) – the vegetable oil industry body, India exported approximately 1.77 million tonnes of oilmeal during the first half of the current financial year.
In the April to September period last year, India’s exports of oilmeals stood at 1.27 million tonnes and with an increase of 0.50 million tonnes this year, India’s oilmeal exports have jumped by 39% in comparison to last year.
Oilmeals: What Are They And What Are They Used For?
Oilmeals are nothing more than the residue left after extracting oil from different oilseeds such as rapeseed, soybean, sunflower, ground nut, mustard and are used all across the globe for feeding livestock.
Rapeseed Meal: The Engine Behind India’s Rise in Oilmeal Exports
Owing to a 100% rise in exports of rapeseed meal, India’s oilmeal exports have witnessed a significant rise. As compared to 605,355 tonnes in the April-September period last year, India exported 1,24 tonne of rapeseed meal this year. Record crop of rapeseed and crushing which resulted in the highest processing and availability of rapeseed meal for exports are the reasons behind the growth in exports of rapeseed meal, the industry body stated.
The industry body is also hopeful of rise in exports of soybean meal from November. “There is likely, starting with new season from November, the export of soybean meal from India will pick up post-Diwali” it said while being optimistic about Indian soybean meal owing to it being of non-GM variety and its preference by certain European Countries.
Major Global Markets for Indian Oilmeal exporters
Indian oilmeal have a huge demand globally. Countries like South Korea, Thailand, Vietnam, Bangladesh and Taiwan rely heavily on India for oilmeals and are the major destinations for Indian Oilmeal Exporters.
According to the data, South Korea imported 529,201 tonnes of oilmeals, Vietnam imported 311,046 tonnes of oilmeals, Thailand imported 358,191 tonnes of oilmeals, Bangladesh imported 178,017 tonnes of oilmeals and Taiwan imported 61,838 tonnes of oilmeals from India during April-September period in the current financial year.
India exported these volumes of oilmeals through its different ports such that the Kandla port exported 663,311 tons and accounted 37% of the total export volumes. Up next by handling 515,981 tons of exports, the Mundra port accounted for 29% of the total exports. The JNPT handled 91,732 tons and accounted for 5%, while Kolkata with 173,130 tons accounted for 10% of the total exports. The remaining ports handled 327,525 tons and accounted for 18% of the total oilmeals exports.
Conclusion
Supported by robust exports of rapeseed meal, India’s exports of oilmeal have jumped by nearly 40% in the first half of the current financial year in comparison to the same period last year. South Korea, Thailand, Vietnam, Bangladesh and Taiwan have emerged as the top export destinations for Indian oilmeals and owing to these if you are thinking to start exporting oilmeals, you can do so with the help of the global trading network of Tradologie.com. Tradologie has 600,000+ global buyers from over 85 countries and through its network you can grow your global oilmeal business with ease. To understand this better, you may visit their website.
