Agri Picks Report November 20, 2023: Geojit

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Geojit's report on Agri Picks

India's oilmeal exports in October rose 36% on year to 289,931 tn, according to data released by The Solvent Extractors' Association of India today. The rise in exports was primarily due to higher sahipments of mustard meal and soymeal. In October, exports of soymeal rose to 87,060 tn from 40,196 tn, and those of mustard were up at 169,422 tn from 98,571 tn. However, exports of castor seed meal fell to 31,469 tn from 35,484 tn a year ago. For Apr-Oct, total oilmeal exports rose 30% to 2.6 mln tn. Exports of soymeal during the period surged 317% to 673,910 tn, and those of mustard meal rose 13% to 1.5 mln tn from the year-ago period. "Foreign demand for Indian soya meal has benefited from improved price competitiveness and the shortage of Argentine export supplies in recent months," said the release. During 2022-23 (Apr-Mar), mustard meal exports were at a record 2.3 mln tn as India is a competitive supplier of mustard meal to South Korea, Vietnam, Thailand, and other countries in the Far East, it said. In Apr-Oct, 608,159 tn of oilmeals were exported from the Kandla port, against 681,312 tn a year ago. A total of 951,343 tn were exported from the Mundra port, against 621,098 tn in the year-ago period. Exports from Mumbai ports, including Jawaharlal Nehru Port Trust, in AprOct were at 192,272 tn against 106,156 tn a year ago. Around 110,223 tn of oilmeals were shipped from the Kolkata port, compared with 197,167 tn a year ago, and 704,054 tn from other ports compared with 369,763 tn in the same period last year, the association said.

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Agri Picks 20 Nov 23