Soymeal export to Iran multiplies

The nation’s total oilmeals export during 2018-19 was reported at 3.2 million tonnes, compared with 3 million tonnes a year earlier, marking an increase of 6 per cent

April 8, 2019

Oilseeds in India account for 13 per cent of the gross cropped area, 3 per cent of gross national product and 10 per cent of agricultural commodities

India grows nine annual oilseed crops, which include seven edible oilseeds (groundnut, soybean, sesame) and two non-edible oilseeds (castor and linseed)

During 2018-19, India reported total oilseeds export earning of US$894 million, compared with US$684 million, marking an increase of 31 per cent

South Korea, France, Vietnam, Thailand and Iran were the leading importers of oilmeals from India, particularly soybean meal and rapeseed meal

India’s soybean meal exports to Iran jumped to 508,050 tonnes during fiscal year 2018-19, from 22,910 tonnes a year earlier, as per an oilmeals export report by the Solvent Extractors’ Association of India on April 8. The nation’s total oilmeals export during 2018-19 was reported at 3.2 million tonnes, compared with 3 million tonnes a year earlier, marking an increase of 6 per cent. The rise was driven by favorable trade policies and improvement in the international economy. India is one of the world’s largest oilseeds grower and importer of edible oils. The nation’s vegetable oil economy is the world’s fourth largest after the US, China and Brazil.

Oilseeds in India account for 13 per cent of the gross cropped area, 3 per cent of gross national product and 10 per cent value of total agricultural commodities. India currently grows nine annual oilseed crops, which include seven edible oilseeds (groundnut, rapeseed and mustard, soybean, sunflower, sesame, safflower and niger) and two non-edible oilseeds (castor and linseed). In 2018-19, rapeseed meal export sharply increased to 1 million tonnes, going mainly to South Korea, Vietnam and Thailand, from 663,988 tonnes a year earlier, Meanwhile, India’s total soybean meal exports rose to 1.3 million tonnes from 1.2 million tonnes a year earlier.

During the year, India reported total oilseeds export earning of US$894 million, compared with US$684 million, marking an increase of 31 per cent. South Korea, France, Vietnam and Thailand were the leading importers of oilmeals from India. Vietnam imported 615,403 tonnes of oilmeals (compared with 682,598 tonnes); South Korea imported 738,795 tonnes of oilmeals (compared with 841,627 tonnes); Thailand imported 302,619 tonnes of oilmeals (compared with 216,814 tonnes); Iran imported 508,050 tonnes of soybean meal compared with to 22,910 tonnes of last year. Oilseeds have received strong boost owing to India’s growing consumption.

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