Soyabean meal helps boost overall export of oilmeals in April

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export boom soybean Helped India register a growth of 48.47 percent in total exports Oil powders During the month of April.

Data available with the Solvent Extractors Association (SEA) in India showed that the country exported 4.93 thousand tons of oily powders in April 2023, compared to 3.32 liters in the corresponding period of 2022.

Pointing out that the price of soybean has fallen to around 4,550 rupees per quintal from a high of 7,640 euros per quintal in April 2022, P. V. Mehta, Managing Director of SEA India, said that this decline made the export of soybean meal attractive in the past. seven months.

India exported 1.77 liters of soybean meal in April 2023 against 24,937 tons in April 2022. On May 12, the price of soybean meal in Argentina (ex excluding Rotterdam) was set at $516 per ton, while the price of Indian soybean (Kandla previously) at $570 per ton.

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Pointing out that Southeast Asia is the main consumer of Indian soybean meal, he said that India has a logistical advantage for this destination and can provide small quantities as well. Besides, the depreciation of the rupee pushes up the aggregate exports.

Rapemeal Export Register

Highlighting the upward trend in the export of rapeseed powder, Mehta said that India exported 2.46 liters of rapeseed in April 2023-24 as against 2.29 liters in the corresponding period of 2022-23.

He said India exported 22.96 liters of rapeseed in 2022-2023, adding that it is record exports of rapeseed powder from India so far.

India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other countries in the Far East at $240 per ton (FOB India). Rapeseed meal (formerly Hamburg) was priced at $299 per ton.

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He said mustard is selling at ₹5,100 a quintal, which is lower than the MSP of 5,450 a quintal, due to the deterioration in the price of edible oil in the international and domestic markets. The low price of mustard discourages farmers from selling mustard to crackers. Now the SEA has revised its mustard yield estimate to 111.80 liters from a previous estimate of 115.25 liters (during March) due to the unseasonal rains in March.

India exported 29,477 tons of polished meal in April 2023 as against 25,758 tons in April 2022, registering a growth of 14.43%.

However, there was a decrease of 28.54 percent in the exports of rice bran extract during the month of April. India exported 37,479 tons of rice and bran in April 2023 compared to 52,450 tons in April 2022.

The number one destination in South Korea

Indian OPM has been exported to countries like South Korea, Thailand, Vietnam and Bangladesh during April.

South Korea imported 86,230 tons of oil powder from India in April 2023 (compared to 1.42 liters in April 2022). This included 78,787 tons of rapeseed meal, 4,445 tons of castor meal and 2,998 tons of soybean meal.

India exported 1 liter of oilmeal (62,979 tons) to Vietnam during April. This included 18,107 tons of rice germination, 36,229 tons of rapeseed, 46,391 tons of soybean meal and 133 tons of groundnut powder.

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Thailand imported 68,519 tonnes (41,992 t) of oilmeal from India during the month of April. This included 60,493 tons of rapeseed meal, 4,526 tons of soybean meal, 2,907 tons of rice plant extract, and 593 tons of rapeseed meal.

India exported 1.07 liters (33,422 tonnes) of oilmeal to Bangladesh during April. This included 9,449 tons of rice plant extract, 27,363 tons of rapeseed powder, and 70,596 tons of soybean meal.