India’s oilmeal exports in October has increased over three fold to 3.68 lakh tonnes (LT) on account of higher exports to Europe, South Korea and Iran.
Shipments of oilmeal in the same month last year stood at 1.22 LT, the Solvent Extractors’ Association (SEA) of India said in a statement.
The overall export of oilmeals till October in the current financial year is increased by 15 per cent to 20.19 LT compared to 17.49 LT during April—October period last year.
South Korea is the biggest importer of oilmeals from India during April—October period with 6.39 LT followed by Iran with 6.04 LT.
Major jump in the oilmeals exports was seen in Europe, the exports have rose to 2,13,324 tonnes in the April—October period compared to 31,326 tonnes in the same period last year.
However, India is losing market in Vietnam due to stiff competition from other origins and increased domestic crushing.