The month of May has been very good for the agricultural trade of the country. Solvent Extractors Association of India (SEA) data shows that India sent a total of 3,73,907 tonnes of oilmeal (cake or cake) to other countries in the month of May. In the month of May last year, this goods was 3,15,326 tonnes. Accordingly, this time in May there has been a good increase of 19 percent in the export of oilmeal. The business had decreased slightly in the beginning of the financial year i.e. in the month of April, but the figures for May have compensated for that shortfall to a great extent.
Oilmeal is actually the dry part left after extracting oil from seeds like mustard, soybean or zucchini. It is also called 'Khali' in common parlance. Farmers in villages take their crops to nearby mills. There, the oil from the seeds is separated by machines and the dry pulp or part that remains is called 'oil meal' or 'cake'. It is very useful for feeding animals because it contains very high amount of protein. For this reason, dairy and poultry farmers buy it in large quantities. This khal is traded on a large scale in villages and local areas due to which farmers and traders get good prices for their crops.
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april fall
The beginning of this financial year was a bit difficult for India. There was a huge decline of 21.5 percent in the export of oilmeal in the month of April. The main reason for this was that ships were facing difficulty in moving through the Red Sea and the cost of sending goods, i.e. freight, had also increased a lot. The situation improved in the month of May and a sharp growth of 19 percent was recorded. If we look at the first two months of this financial year i.e. April and May together, India has sent out a total of 7,39,467 tonnes of oilmeal. At the same time last year, this total figure was 7,81,189 tonnes, which is slightly less than this time.
China becomes India's biggest buyer
In the month of May, China has purchased the maximum amount of Indian oilmeal and has emerged as the largest customer. If we look at the months of April and May together, China alone has purchased 2,76,147 tonnes of oilmeal. At the same time last year, China had purchased only 1,17,388 tonnes, which means this time the exports to China have increased a lot. In this, the highest demand has been for mustard and zucchini cake (rapeseed mill), the total quantity of which has been recorded at 2,73,533 tonnes.
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How much oilmeal did other countries buy?
Apart from China, other countries of the world have also imported oilmeal from India. Bangladesh has purchased 1,02,100 tonnes of oilmeal from India during this period. Moreover, Vietnam has almost doubled its purchases. This time Vietnam has ordered 80,231 tonnes of oilmeal whereas last year it had ordered only 40,040 tonnes. However, there are some countries where less goods are sold from India. Demand for India's oilmeal has declined in South Korea and Thailand, where it has declined by about 30 percent in South Korea and by about 44 percent in Thailand.