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An increase in the export of soyabean meal helped India register 1 per cent growth in total oilmeal exports during January. Data compiled by the Solvent Extractors’ Association of India (SEA) showed that India exported 4.77 lakh tonnes (lt) of oilmeals in January 2024, against 4.72 lt in January 2023.
However, overall export of oilmeals was at 39.74 lt during April-January of 2023-24, against 32.88 lt in the corresponding period of 2022-23, registering 21 per cent growth.
B.V. Mehta, Executive Director of SEA, said India’s price competitiveness and shortage in Argentine export supplies in recent months were behind the international demand for Indian soyabean. Crushing is expected to stay below potential in Argentina during the current quarter, limiting the export of Argentine soyabean meal, he said.
Soyabean meal exports from India increased to 15.86 lt during April-January 2023-24, against 5.57 lt in the year-ago period. India exported 3.75 lt of soyabean meal in January 2024, against 1.10 lt in January 2023.
South-East Asia and the West Asian countries are the major consumers of Indian soyabean meal. India has a logistic advantage in these destinations, and it can supply in small lots, he said.
Iran imported 2.56 lt of soyabean meal during April-January 2023-24, against 1,284 tonnes in April-January of 2022-23.
Rapeseed meal exports down
However, export of rapeseed meal from India has reduced by 70 per cent during January. India exported 71,472 tonnes of rapeseed meal during January 2024 (2.38 lt in January 2023).
Mehta attributed the decline in export of rapeseed meal to the lean crushing season and high local prices. These factors made Indian rapeseed meal expensive for export, he said.
India exported 18.95 lt of rapeseed meal during the first 10 months of 2023-24 ( 19.07 lt a year ago).
Top importers
South Korea imported 7.66 lt of oilmeals from India during April-January 2023-24 (8.06 lt in April-January 2022-23). This included 5.19 lt of rapeseed meal, 2.07 lt of castorseed meal and 39,688 tonnes of soyabean meal.
India exported 3.78 lt of oilmeals to Vietnam during April-January 2023-24 (7.52 lt). This included 90,540 tonnes of ricebran extraction, 2.36 lt of rapeseed meal, 50,760 tonnes of soyabean meal, and 905 tonnes of groundnut meal.
During April-January 2023-24, Thailand imported 5.25 lt of oilmeals from India (6.26 lt). This included 5.11 lt of rapeseed meal, 8,759 tonnes of soyabean meal, 4,666 tonnes of ricebran extraction, and 701 tonnes of castorseed meal.
Bangladesh imported 7.08 lt of oilmeals from India during the first 10 months of 2023-24 (3.64 lt). This included 27,771 tonnes of ricebran extractions, 3.19 lt of rapeseed meal, and 3.60 lt of soyabean meal.
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