A surge in the export of soyabean meal helped India to register a 24 per cent growth in the export of oilmeals during the first nine months of 2023-24.

Data compiled by the Solvent Extractors’ Association of India (SEA) showed that India exported 34.96 lakh tonnes (lt) of oilmeals during April-December of 2023-24 against 28.16 lt in the corresponding period of 2022-23, a growth of 24.16 per cent.

BV Mehta, Executive Director of SEA, said the export of oilmeals increased by 19 per cent in Q1 of 2023-24 due to the export of soyabean meal. India exported 12.16 lt of oilmeals during Q1 of 2023-24 (10.16 lt in Q1 of 2022-23). Of this, the share of soyabean meal was at 3.64 lt (75,454 tonnes).

He said the export of oilmeals increased by 43 per cent in Q2 of 2023-24, mainly due to a sharp increase in the export of soyabean and rapeseed meal. India exported 10.66 lt of oilmeals during Q2 of 2023-24 (7.46 lt). Of this, the share of soyabean meal was at 2.22 lt (45,885 tonnes), and that of rapeseed meal was at 7.23 lt (5.33 lt).

Though the export of oilmeals increased by 16 per cent in third quarter of 2023-24, it was down from the Q2 due to the ban on the export of de-oiled rice bran. India exported 12.20 lt of oilmeals during Q3 of 2023-24 (10.53 lt).

Competitive rapemeal supplier

On demand for Indian soyabean meal in the international market, he said improved price competitiveness and the shortage of Argentine export supplies in recent months helped boost the demand. The total export of soyabean meal was reported at 12.11 lt (4.47 lt) during April-December 2023-24.

India exported 18.24 lt of rapeseed meal (16.69 lt) during the first nine months of 2023-24. He said India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far-East countries.

Major importers

South Korea imported 7.30 lt of oilmeals (7.15 lt) during April-December 2023-24. This included 5.13 lt of rapeseed meal, 1.83 lt of castorseed meal, and 32,946 tonnes of soyabean meal.

India exported 3.61 lt of oilmeals (6.84 lt) to Vietnam during the first nine months of 2023-24. This included 90,540 tonnes of ricebran extraction, 2.19 lt of rapeseed meal, 50,506 tonnes of soyabean meal, and 905 tonnes of groundnut meal.

Thailand imported 4.95 lt of oilmeals (5.09 lt) during April-December 2023-24. This included 4.81 lt of rapeseed meal, 8,445 tonnes of soyabean meal, 4,666 tonnes of ricebran extraction, and 701 tonnes of castorseed meal.

India exported 6.62 lt of oilmeals (2.81 lt) to Bangladesh during the first nine months of 2023-24. This included 27,771 tonnes of ricebran extractions, 3.14 lt of rapeseed meal, and 3.21 lt of soyabean meal.

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