Oilmeals export up 29 per cent in H1 this fiscal

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India exported 22.76 lakh tonnes (lt) of oilmeals during April-September of 2023-24 against 17.62 lt in the corresponding period a year ago, registering a growth of 29.15 per cent.

Data provided by the Solvent Extractors’ Association of India (SEA) showed that India exported 3.30 lt of oilmeals during September 2023 against 2.40 lt in September 2022, up 37.35 per cent.

BV Mehta, Executive Director of SEA, said India was outpriced in the international market in the case of soyabean meal last year. India exported 5.86 lt of soyabean meal during the first six months of 2023-24 against 1.21 lt in the corresponding period of 2022-23.

Export of rapeseed meal increased to 13.44 lt during April-September 2023-24 against 12.40 lt during the period. Castor seed meal export from India increased to 1.81 lt in the first half against 1.54 lt a year ago.

Rice bran shipments down

However, there was a decline in the export of ricebran extractions during the first six months of the current financial year. India exported 1.51 lt of ricebran extractions during April-September 2023-24 against 2.04 lt in the corresponding period of 2022-23.

Mehta said India exports around 5-6 lt of de-oiled ricebran every year to Vietnam, Bangladesh, Thailand, etc.

Stating that India exported around 1.5 lt during April-July 2023-24, he said the Government prohibited export of of de-oiled ricebran with effect from July 28 until November 30. This decision has seriously affected domestic ricebran processors and export of de-oiled ricebran, he said.

Korea top buyer

Oilmeals from India are exported to countries such as South Korea, Thailand, Vietnam and Bangladesh.

South Korea imported 4.62 lt of oilmeals from India during the first six months of 2023-24 (5.29 lt in April-September of 2022-23). This included 3.41 lt of rapeseed meal, 98,080 tonnes of castorseed meal, and 23,091 tonnes of soyabean meal.

Vietnam imported 3.02 lt of oilmeals from India during April-September 2023-24 (3.11 lt). This included 90,540 tonnes of ricebran extraction, 1.62 lt of rapeseed meal, 49,162 tonnes of soyabean meal, and 748 tonnes of groundnut meal.

Thailand imported 3.74 lt of oilmeals from India during the first six months of 2023-24 (3.58 lt). This included 3.63 lt of rapeseed meal, 6,193 tonnes of soyabean meal, 4,666 tonnes of ricebran extraction, and 701 tonnes of castorseed meal.

Bangladesh imported 4.35 lt of oilmeals from India during April-September 2023-24 (1.81 lt). This included 27,771 tonnes of ricebran extractions, 2.38 lt of rapeseed meal, and 1.68 lt of soyabean meal.