India experienced a 9% increase in oilmeals exports in February, reaching nearly 5.16 lakh tonnes, primarily driven by a rise in soyabean meal shipments. The Solvent Extraction of India (SEA) reported that February's exports amounted to 515,704 tonnes, up from 471,770 tonnes in the same period last year. The significant contributors to this export volume were soyabean meal, with 347,905 tonnes, and rapeseed meal, accounting for 144,372 tonnes.
The surge in exports is attributed to heightened demand for soyabean meal, reflecting India's robust performance in the global oilmeal market. This increase in exports signifies India's growing influence and competitiveness in the international oilmeals trade, particularly in soyabean meal, which is a critical component of animal feed globally.
From April to February of the current fiscal year, India's total oilmeals exports witnessed a 19% growth, totaling 44,90,055 tonnes compared to 37,60,329 tonnes in the same period the previous year. This upward trend highlights the consistent demand for Indian oilmeals in the global market and the country's ability to capitalize on this demand, bolstering its export figures and enhancing its presence in the international trade of oilmeals.