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Oilmeals Export Spurts 33% On Year In October 2020

Capital Market 

The Solvent Extractors' Association (SEA) of India has compiled the export data for export of oilmeals for the month of October 2020 and provisionally reported it at 317,394 tons compared to 238,992 tons in October, 2019 i.e. up by 33%. The overall export of oilmeals during April to October 2020 recovered and provisionally reported at 1,617,528 tons compared to 1,526,471 tons during the same period of previous year i.e. up by 6%.

In-spite of tough competition in world market, export of rapeseed meal and ricebran extraction performed well, during the last seven months of financial year 2020-21. The export of rapeseed meal is reported at 729,799 tons against last year 607,786 during the same period i.e. up by 20%, and ricebran extraction is reported at 229,712 tons against last year 108,160 tons i.e. more than doubled (112%), thanks to higher processing of Rapeseed Cake and De-oiled Ricebran and increased availability for the export. The export of soybean meal is stagnant, while export of castorseed meal suffering.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, November 19 2020. 16:26 IST