India’s oilmeals export up 9 laptop to almost 5.16 lakh tonne in Feb on larger soyameal shipments
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Of the whole oilmeals export final month, the shipments of soyabean meal stood at 3,47,905 tonne and rapeseed meal 1,44,372 tonne.
The information confirmed that the whole export of oilmeals through the April-February interval of this fiscal elevated 19 per cent to 44,90,055 tonne as in comparison with 37,60,329 tonne within the corresponding interval of the earlier yr.
The export of soybean meal through the April-February interval of the 2023-24 fiscal rose to 19.34 lakh tonne in comparison with 7.87 lakh tonne in the identical interval of the earlier yr as Indian soybean meal was best within the worldwide market.
Nevertheless, SEA mentioned that soyameal exports would possibly decelerate due to the lower cost being quoted by Argentina.
As on March 13, 2024, Indian soybean meal Ex-Kandla is being quoted at USD 490 per tonne whereas soyameal Argentine cif Rotterdam at USD 415 per tonne. The export of rapeseed meal through the April-February interval of this fiscal fell to twenty.40 lakh tonne as in comparison with 20.48 lakh tonne within the year-ago interval. Throughout the April-February interval of this fiscal, South Korea imported 787,909 tonne of oilmeals as in comparison with 8,80,615 tonne within the year-ago interval.
Vietnam imported 3,94,660 tonne of oilmeals within the first 11 months of this fiscal as in opposition to 8,85,146 tonne within the corresponding interval of the earlier yr.
India’s export of oilmeals to Thailand fell to six,04,782 tonne from 684,419 tonne.
Bangladesh imported 7,79,558 tonne of oilmeals from India through the April-February interval of this fiscal as in opposition to 448,528 tonne within the year-ago interval.
Iran is rising as a big importer of Indian soybean meal. Iran purchased 341,206 tonne of oilmeals from India through the April-February interval of this fiscal from 3,946 tonne within the year-ago interval, the SEA knowledge confirmed.
