Oilmeals export up by 25.74% in August

Export of oilmeals elevated to three.54 lakh tonnes (lt) in August towards 2.81 lt in August 2022, recording a progress of 25.74 per cent. According to Solvent Extractors’ Association of India (SEA), the general export of oilmeals stood at 19.45 lt throughout April-August 2023-24 as towards 15.21 lt in the corresponding interval of the earlier fiscal, up by 27.85 per cent.

BV Mehta, Executive Director of SEA, mentioned India was out priced in the worldwide market in soyabean meal final 12 months.

Stating that export revived throughout the present 12 months, he mentioned India exported 4.81 lt of soyabean meal throughout April-August of 2023-24 towards 1.07 lt in the corresponding interval of 2022-23.

Mentioning that export of rapeseed meal is performing significantly better, he mentioned the nation exported 11.55 lt rapeseed meal in the primary 5 months of 2023-24 towards 10.77 lt in April-Aug of 2022-23.

India exported 1.51 lt (2.04 lt) of ricebran extractions, and 1.46 lt (1.29 lt) of castorseed meal throughout the interval. Referring to the ban on the export of de-oiled ricebran, he mentioned the nation yearly exports 5-6 lt of de-oiled ricebran primarily to Vietnam, Bangladesh, and Thailand. During April-July of this 12 months, the nation exported about 1.5 lt of de-oiled ricebran.

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However, the Government has prohibited export of de-oiled ricebran with impact from July 28 till November 30. This resolution may have far-reaching damaging penalties for home ricebran processors and export of de-oiled ricebran. “Neighbouring international locations are the key export locations for a lot of solvent extraction items in japanese states, together with West Bengal, producing de-oiled ricebran,” he mentioned.

Major importers

During April-August, South Korea imported 3.82 lt of oilmeals (4.52 lt) from India. This included 2.91 lt of rapeseed meal, 68,732 tonnes of castorseed meal, and 21,600 tonnes of soyabean meal.

Vietnam imported 2.85 lt of oilmeals (2.52 lt) from India throughout April-August. This included 90,540 tonnes of ricebran extraction, 1.44 lt of rapeseed meal, 49,044 tonnes of soyabean meal, and 748 tonnes of groundnut meal.

India exported 3.49 lt of oilmeals (3.17 lt) to Thailand throughout April-August. This included 3.37 lt of rapeseed meal, 6,115 tonnes of soyabean meal, 4,666 tonnes of ricebran extraction, and 701 tonnes of castorseed meal.

Bangladesh imported 3.82 lt of oilmeals (1.66 lt) from India throughout April-August. This included 27,771 tonnes of ricebran extraction, 1.90 lt of rapeseed meal, and 1.63 lt of soyabean meal.