India’s overall oilmeal exports so far during the current financial year – April to December – were 70 per cent higher year-on-year at around 3.3 million tonnes, data compiled by vegetable oil industry body, The Solvent Extractors’ Association of India (SEA), stated.
Oilmeals are basically the residue left over after extraction of oil from oilseeds, and they are widely used as livestock feed worldwide. Till December, the total exports were at 2.82 million tonnes.
In January alone, exports of India’s oilmeal were provisionally reported at 472,438 tonnes, up 167 per cent from 176,967 tonnes the same month last year, data showed.
It is important to note export of rapeseed meals has set a new record – 1.91 million tonnes — and broke the earlier highest record for the financial year 2011-12.
Also, the better price realization from rapeseed (mustard) oil and export of rapeseed meal not only supported the domestic price of mustard seed, but also encouraged larger sowing area under the mustard crop during the current rabi season.
Rabi crops are mostly sown during October and November and the produce is harvested from January to March depending on the maturity of the commodity. Mustard is one of the major rabi crops.