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Oilmeals export during April-February rises: SEA data

According to data compiled by the Solvent Extractors’ Association of India (SEA), export of oilmeals jumped 205 percent year-on-year in February to 393,309 tonnes, compared with 128,761 tonnes, the overall export of oilmeals during April 2020 to February 2021 recovered sharply and stood at 3,358,649 tonne provisionally in coparison of 2,256,614 tonnes during the same period of the previous year up by 49 percent, according to the association. Due to lower supply from Argentina and Brazil and also good demand of non-GMO soybean meal from the US and Europe, the export of soybean meal jumped mainly because of better realizations. As per BV Mehta, executive director, (SEA), 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. 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.