Export of oilmeals increased to 3.54 lakh tonnes (lt) in August against 2.81 lt in August 2022, recording a growth of 25.74 per cent. According to Solvent Extractors’ Association of India (SEA), the overall export of oilmeals stood at 19.45 lt during April-August 2023-24 as against 15.21 lt in the corresponding period of the previous fiscal, up by 27.85 per cent.
BV Mehta, Executive Director of SEA, said India was out priced in the international market in soyabean meal last year.
Stating that export revived during the current year, he said India exported 4.81 lt of soyabean meal during April-August of 2023-24 against 1.07 lt in the corresponding period of 2022-23.
Mentioning that export of rapeseed meal is performing much better, he said the country exported 11.55 lt rapeseed meal in the first five months of 2023-24 against 10.77 lt in April-Aug of 2022-23.
India exported 1.51 lt (2.04 lt) of ricebran extractions, and 1.46 lt (1.29 lt) of castorseed meal during the period. Referring to the ban on the export of de-oiled ricebran, he said the country annually exports 5-6 lt of de-oiled ricebran mainly to Vietnam, Bangladesh, and Thailand. During April-July of this year, the country exported about 1.5 lt of de-oiled ricebran.
However, the Government has prohibited export of de-oiled ricebran with effect from July 28 until November 30. This decision could have far-reaching negative consequences for domestic ricebran processors and export of de-oiled ricebran. ‘Neighbouring countries are the major export destinations for many solvent extraction units in eastern states, including West Bengal, producing de-oiled ricebran,’ he said.
During April-August, South Korea imported 3.82 lt of oilmeals (4.52 lt) from India. This included 2.91 lt of rapeseed meal, 68,732 tonnes of castorseed meal, and 21,600 tonnes of soyabean meal.
Vietnam imported 2.85 lt of oilmeals (2.52 lt) from India during April-August. This included 90,540 tonnes of ricebran extraction, 1.44 lt of rapeseed meal, 49,044 tonnes of soyabean meal, and 748 tonnes of groundnut meal.
India exported 3.49 lt of oilmeals (3.17 lt) to Thailand during April-August. This included 3.37 lt of rapeseed meal, 6,115 tonnes of soyabean meal, 4,666 tonnes of ricebran extraction, and 701 tonnes of castorseed meal.
Bangladesh imported 3.82 lt of oilmeals (1.66 lt) from India during April-August. This included 27,771 tonnes of ricebran extraction, 1.90 lt of rapeseed meal, and 1.63 lt of soyabean meal.
This article has been republished from The Hindu Business Line