Export of oilmeals witnessed a 34.6 per cent growth in the first four months of 2022-23 mainly due to a quantum jump of 77.49 per cent in the shipment of rapeseed meal.
According to Solvent Extractors’ Association of India (SEA) data, the country exported 12.48 lakh tonnes (lt) of oilmeals during April-July this fiscal against 9.27 lt in the corresponding period of the previous fiscal. India exported 2.27 lt of oilmeals in July as against 1.91 lt in July 2021, a growth of 18.57 per cent.
BV Mehta, Executive Director of SEA, said that during the first four months of 2022-23 India exported 8.51 lt rapeseed meal against 4.79 lt in the corresponding period a year ago.
He said a record rapeseed crop and crushing resulted in the highest processing and availability of rapeseed meal for export. At $295 a tonne (FOB), India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far-East countries. The current price of rapeseed meal (FOB Hamburg) is quoted at $376 a tonne, he said.
However, export of soyabean meal dropped during the review period, from 1.44 lt a year ago to 90,711 tonnes, a decline of 37.35 per cent.
Mehta said export of soyabean meal is at its lowest as India remains outpriced in the international market. The current price of soyabean meal (FOB Kandla) is $675 a tonne, while soyabean meal Argentina (CIF Rotterdam) is quoted at $548 and Brazil at $534 a tonne.
Castor, rice bran
He said export of castor meal declined marginally during the first four months of the fiscal, from 1.09 lt a year ago to 1.05 lt, down by 3.23 per cent.
The country exported 1.98 lt of rice bran extraction against 1.92 lt, up 3.06 per cent.
South Korea emerged the major importer of oilmeal from India at 4.24 lt (2.77 lt). This included 3.55 lt of rapeseed meal, 55,719 tonnes of castor seed meal, and 13,720 tonnes of soyabean meal.
Vietnam’s import of oilmeal stood at 2.26 lt (1.64 lt) during the period — 1.36 lt of rice bran extraction, 88,569 tonnes of rapeseed meal, 1,575 tonnes of soyabean meal, and 448 tonnes of groundnut meal.
India exported 1.56 lt (1.17 lt) of oilmeals to Thailand during the first four months of this fiscal — 1.55 lt of rapeseed meal, and 986 tonnes of soyabean meal.
Bangladesh’s oilmeal import from India stood at 1.44 lt (1.23 lt) during the period — 31,672 tonnes of ricebran extraction, and 1.12 lt of rapeseed meal.
Taiwan imported 50,582 tonnes of oilmeals (32,823 tonnes) during April-July 2022-23 — 37,569 tonnes of castor seed meal, 10,915 tonnes of rapeseed meal, 1,569 tonnes of groundnut meal, and 529 tonnes of soyabean meal.