Between April 1, 2020, to March 31, 2021, oil meal exports from India witnessed a strong progress of 51 per cent. A press assertion issued by the Solvent Extractors’ Affiliation of India on Monday mentioned that within the final fiscal India had exported 36.80 lakh tones of oil meal exports as in comparison with 24.33 lakh tonnes recorded within the monetary 12 months 2019-21.
Oil meal or oilseed meal cake refers back to the protein-rich substance left after oil is extracted from the seed. For poultry and animal feed trade, oilseed muffins are the uncooked materials wanted because the protein part in feed. Additionally given the non-GM nature of Indian oilseed meals, fetch a premium within the worldwide markets.
By far the biggest chunk of exports was cornered by soyameal cake with the nation exporting 15.64 lakh tonnes in 2020-21 fiscal as in comparison with 6.92 lakh tonnes of final fiscal.
Equally, Rapeseed meal export additionally crossed million tons, courtesy of upper buy by South Korea, Thailand and Bangladesh.
Ricebran export additionally doubled as a result of heavy demand from Vietnam and Bangladesh. The general incomes jumped to double at Rs 8,838 crore in comparison with Rs 4,437 crore throughout 2019-20.
South Korea has emerged as a significant importer of Indian oil meals with the nation importing 8.05 lakh tonnes of oil meal final fiscal. Bangladesh, too, has turned out to be a giant importer of rapeseed meal, rice bran extraction and soyabean meal cake.