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An increase in the export of rapeseed meal helped India register nearly 10 per cent growth in the total export of oilmeals in April.
According to the Solvent Extractors’ Association of India (SEA), the country exported 3.33 lakh tonnes (lt) of oilmeals during April, against 3.03 lt in the corresponding period a year ago, recording a growth of 9.96 per cent in the first month of the current fiscal.
Executive Director of SEA, BV Mehta, attributed the growth in oilmeals export to the increase in the export of rapeseed meal during the period. The country exported 2.29 lt of rapeseed meal during April 2022 against 93,984 tonnes in March 2022, an increase of 143.87 per cent. The country exported 1.77 lt in April 2021-22.
Set to perform well
He said the export of rapeseed meal is likely to be higher during the current fiscal 2022-23 due to higher crushing and solvent extraction of rapeseed cake. India is likely to be the competitive supplier to South Korea, Vietnam, Thailand and other Far East countries, he said.
Overall export of oilmeals during 2022-23 is likely to be lower. He said India is outpriced in the international soyabean meal market
Soyabean meal export ex-Kandla is quoted at $730 a tonne against $505 a tonne for Brazil-origin and $510 a tonne for Argentina-origin (ex-Rotterdam).
Export of oilmeals dropped to 23.8 lt in 2021-22 from 36.8 lt in 2020-21. In terms of value, the earnings went down to ₹5,600 crore in 2021-22 as against ₹8,900 crore in 2020-21, a 37 per cent decline.
S Korea major importer
During April 2022, South Korea imported 1.42 lt (1.15 lt) of oilmeals. This included 1.27 lt of rapeseed meal, 10,202 tonnes of castorseed meal, and 4,324 tonnes of soyabean meal.
Vietnam imported 62,979 tonnes (38,038 tonnes) of oilmeals, including 37,095 tonnes of ricebran extraction, 25,063 tonnes of rapeseed meal, and 821 tonnes of soyabean meal.
India exported 41,992 tonnes (44,749 tonnes) of oilmeals to Thailand, consisting of 41,827 tonnes of rapeseed meal, and 165 tonnes of soyabean meal.
Bangladesh imported 33,422 tonnes (42,024 tonnes) of oilmeals. This included 11,890 tonnes of ricebran extraction, and 21,532 tonnes of rapeseed meal.
Taiwan imported 13,191 tonnes (10,870 tonnes) of oilmeals, including 12,357 tonnes of castorseed meal, 806 tonnes of rapeseed meal, and 28 tonnes of soyabean meal.
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