An increase in the export of rapeseed meal and the revival of the export of soyabean meal helped India to register a growth of 167 per cent in the overall exports of oilmeals during January. The overall exports of oilmeals recorded a growth of 69.6 per cent during the first 10 months of FY23.

Data available with Solvent Extractors’ Association (SEA) of India showed that India exported 4.72 lakh tonnes (lt) of oilmeals in January 2023 against 1.76 lt in January 2022. India’s export of oilmeals increased to 32.97 lt during April-January of 2022-23 from 19.44 lt in the corresponding period of 2021-22.

BV Mehta, Executive Director of SEA of India, said the export of rapeseed meal has set a new record in the first 10 months of 2022-23, and broke the earlier highest record export of 12.48 lt in 2011-12. India exported 19.10 lt of rapeseed meal during April-January of 2022-23 against 7.29 lt in the corresponding period of 2021-22, recording a growth of 161.73 per cent.

He said India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East countries at $250 a tonne FOB India, while rapeseed meal (Hamburg ex-mill) is quoted at $428 a tonne.

He said the better realisation from rapeseed (mustard) oil and export of rapeseed meal not only supported domestic price of mustard seed, but also encouraged larger sowing area under mustard crop.

Soyameal

Export of soyabean meal from India increased to 5.57 lt during April-January of 2022-23 from 3.15 lt in the corresponding period of 2021-22, recording a growth of 77 per cent.

Mehta said the fall in the local soyabean price to level of ₹4700 a quintal from the highest level of ₹7640 a quintal in April 2022 encouraged larger crushing of the crop and better price parity. This made export of soyabean meal attractive.

As on February 17, Argentina soyabean meal price (ex-Rotterdam) was quoted at $619 a tonne while Indian soyabean meal (ex-Kandla) was quoted at $585 a tonne. The major consumers of Indian soyabean meal are South East Asian countries. India has a logistic advantage and also can supply in small lots, he said.

Being non-GMO, Indian soyabean meal has an advantage. It is being preferred by certain European countries and the US. He said the rupee depreciation is also pushing the overall export.

All these factors helped India to revive the export of soyabean meal from the new crop. Giving details of the last three months export figures, he said India shipped 3.95 lt of soyabean meal during November-January of 2022-23 against 1.38 lt in the corresponding period of the previous year, recording a growth of 184.9 per cent.

Export destinations

South Korea imported 8.06 lt of oilmeals from India during the first 10 months of 2022-23 (5.09 lt during April-January of 2021-22). This included 5.51 lt of rapeseed meal, 2.24 lt of castorseed meal, and 30,687 tonnes of soyabean meal.

India exported 7.52 lt of oilmeals to Vietnam during April-January of 2022-23 (4.78 lt). This included 3.37lt of ricebran extraction, 2.18 lt of rapeseed meal, 1.91 lt of soyabean meal, and 5,009 tonnes of groundnut meal.

Thailand imported 6.26 lt of oilmeals from India during the first 10 months of 2022-23 (1.44 lt). This included 5.98 lt of rapeseed meal, 21,261 tonnes of soyabean meal, 4,038 tonnes of groundnut meal, 1,794 tonnes of ricebran extraction, and 798 tonnes of castorseed meal.

India exported 3.60 lt of oilmeals to Bangladesh during April-January of 2022-23 (2.90 lt). This included 76,751 tonnes of ricebran extractions, 2.44 lt of rapeseed meal, and 39,214 tonnes of soyabean meal.

Taiwan imported 1.15 lt of oilmeals from India during the first 10 months of 2022-23 (78,167 tonnes). This included 69,029 tonnes of castorseed meal, 36,267 tonnes of rapeseed meal, 7,180 tonnes of groundnut meal, and 2,670 tonnes of soyabean meal.

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