India's Oilmeal Export Boosted by Rapeseed Meal, says SEA

An increase in rapeseed meal exports helped India record a nearly 10% increase in total oilmeal exports in April. According to the Solvent Extractors' Association of India (SEA), the country exported 3.33 lakh tonnes (lt) of oilmeals in April, up from 3.03 lt in the same month last year, representing a 9.96% increase in the first month of the current fiscal.

SEA Executive Director BV Mehta attributed the increase in oilmeals export to an increase in rapeseed meal export during the period. The country exported 2.29 lt of rapeseed meal in April 2022, up from 93,984 tonnes in March 2022, a 143.87 percent increase. In April 2021-22, the country exported 1.77 lt.

He predicted that rapeseed meal exports would increase during the current fiscal year 2022-23 due to increased crushing and solvent extraction of rapeseed cake. According to him, India is likely to be a competitive supplier to South Korea, Vietnam, Thailand, and other Far East countries.

Overall oilmeal exports are expected to be lower in 2022-23. According to him, India is under-priced in the international soyabean meal market.

Soyabean meal export ex-Kandla is quoted at $730 per tonne, compared to $505 for Brazil-origin and $510 for Argentina-origin (ex-Rotterdam).

Oilmeal exports fell to 23.8 lt in 2021-22, down from 36.8 lt in 2020-21. In terms of value, earnings fell 37% to Rs 5,600 crore in 2021-22 from Rs 8,900 crore in 2020-21.

South Korea imported 1.42 lt (1.15 lt) of oilmeals in April 2022. 1.27 lt of rapeseed meal, 10,202 tonnes of castorseed meal, and 4,324 tonnes of soyabean meal were included.

Vietnam imported 62,979 tonnes of oilmeals (38,038 tonnes), including 37,095 tonnes of ricebran extract, 25,063 tonnes of rapeseed meal, and 821 tonnes of soyabean meal.

India exported to Thailand 41,992 tonnes (44,749 tonnes) of oilmeals, including 41,827 tonnes of rapeseed meal and 165 tonnes of soyabean meal.

Bangladesh imported 33,422 tonnes of oilmeals (42,024 tonnes). This included the extraction of 11,890 tonnes of ricebran and 21,532 tonnes of rapeseed meal. Taiwan imported 13,191 tonnes of oilmeals (10,870 tonnes), including 12,357 tonnes of castorseed meal, 806 tonnes of rapeseed meal, and 28 tonnes of soyabean meal.