Export Of Oilmeals Down By 6%

Increased in export of Soybean meal

FinTech BizNews Service

Mumbai, May 21, 2024: The Solvent Extractors’ Association of India has compiled the export data for export of oilmeals for the month of April, 2024 provisionally reported at 465,156 tons compared to 493,448 tons in April 2023 i.e. marginally down by 6% as under.
                                                                  

Export of Oilmeals – April 2023
  (Qty. in M.T.)

 
Export of Oilmeals – From New Season (Nov.’23 – Apr.’24) :-
India harvested the record crop of soybean in kharif season and rape-mustard in rabi season which encouraged higher crushing and increased availability of meal both for the domestic consumption and export. The total export from Nov.’23 to Apr.’24 ( 6 months) indicate the revival of soybean export which jumped from 10.4 lakh tons to 16.6 lakh tons, while rapeseed meal is down by nearly 23% as during last year India could export substantial quantity due to price advantage vis-à-vis other origins.(see the table)

Export Prohibition on De-oiled Rice Bran :
 India usually export about 5 to 6 lakh tons of Deoiled Ricebran mainly to Vietnam, Thailand and other Asian countries and positioning as a reliable supplier in international market. The Government prohibited export of De-oiled Ricebran  on 28th July of last year attributing it to the high fodder prices with De-oiled Ricebran being a major component till 31st March, 2024 and later extended up to 31st July, 2024. The De-oiled Ricebran prices now are at the lower level and likely to go down further with increased availability of DDGS. In view of the above facts and sharp fall in prices of De-oiled Ricebran, the Association has  appealed  to the Government not to extend the prohibition beyond 31st July, 2024.

South Korea, Thailand, Vietnam and Bangladesh are the major importer of Indian Oilmeals
 During April 2024, South Korea imported 109,744 tons of oilmeals (compared to 86,231 tons); consisting of 90,238 tons of rapeseed meal, 15,970 tons of castorseed meal and 3,537 tons of soybean meal. Vietnam imported 18,365 tons of oilmeals (compared to 100,860 tons); consisting of 16,627 tons of  rapeseed meal and 1,738 tons of soybean meal. Thailand imported 40,582 tons of oilmeals (compared to 68,519 tons); consisting of 39,035 tons of rapeseed meal and 1,547 tons of soybean meal. Bangladesh sourcing rapeseed meal and  soybean meal from India  and imported 82,878 tons of oilmeals (compared to 107,408 tons), consisting of  66,926 tons of rapeseed meal and 15,953 tons of soybean meal. Iran has turned out to be largest importer of Soybean meal from India (including shipment via Dubai) and imported 81,240 tons of soybean meal.

Port-wise Export of Oilmeals : April 2024
 The export from Kandla is reported at 162,352 tons (35%), followed by Mundra handled 113,49 tons (24%), Mumbai including JNPT handled 78,322 tons (17%) and Others Ports handled 110,987 tons (24%).