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A fall in the overall export of oilmeals in June restricted the export growth to 19 per cent in the first quarter of 2023-24.
Data available with the Solvent Extractors’ Association (SEA) of India showed India exported 12.10 lakh tonnes (lt) of oilmeals during the first quarter of 2023-24 against 10.16 lt in the corresponding period of 2022-23, a growth of 19.09 per cent.
BV Mehta, Executive Director of SEA of India, said the export of oilmeals was down by more than 35 per cent in June.
There was a huge jump in the export of soyabean meal in the first quarter. However, the export of rapeseed meal and rice bran extractions declined during the period.
Export of soyabean meal increased to 3.64 lt in the first quarter against 75,454 tonnes in same period a year ago. Export of rapeseed meal, rice bran extractions and castorseed meal decreased by 12.2 per cent, 15.72 per cent, and 8.23 per cent, respectively, during the period. India’s export of rapeseed meal was 6.2 lt (7.06 lt in Q1 of 2022-23), rice bran extractions at 1.25 lt (1.49 lt), and castorseed meal at 83,281 tonnes (90,750 tonnes).
India exported 2.80 lt of oilmeals during June 2023 against 4.36 lt in May 2023, a decline of 35.86 per cent.
In June, the export of soyabean meal, rapeseed meal and castorseed meal declined by 36 per cent, 40 per cent, and 60 per cent, respectively. In June, India’s export of soyabean meal stood at 73,139 tonnes (1.14 lt in May), rapeseed meal at 1.40 lt (2.33 lt), and castorseed meal at 17,512 tonnes (43,761 tonnes). However, export of rice bran extractions went up to 45,705 tonnes in June against 42,398 tonnes in May, registering a growth of 7.8 per cent.
Major importers
South Korea, Thailand, Vietnam and Bangladesh were the major importers of oilmeals from India during the first quarter of 2023-24.
India exported 2.47 lt of oilmeals to South Korea in Q1 2023-24 (3.38 lt in Q1 of 2022-23). This included 2 lt of rapeseed meal, 34,153 tonnes of castorseed meal, and 12,102 tonnes of soyabean meal.
During th period, Vietnam imported 1.92 lt of oilmeals (1.84 lt). This included 76,789 tonnes of rice bran extractions, 67,628 tonnes of rapeseed meal, 47,797 tonnes of soyabean meal, and 442 tonnes of groundnut meal.
India exported 1.86 lt (1.34 lt) of soyabean meal to Thailand during the period. This included 1.76 lt of rapeseed meal, 5,468 tonnes of soyabean meal, 4,666 tonnes of ricebran extractions, and 701 tonnes of castorseed meal.
Bangladesh imported 2.57 lt of oilmeals (1.25 lt) during the first quarter of FY24. This included 23,158 tonnes of ricebran extractions, 82,996 tonnes of rapeseed meal, and 1.51 lt of soyabean meal.
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