As soyameal shipments revive, oilmeals export up 28% in April-July

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Export of oilmeals from India increased to 15.91 lakh tonnes (lt) during April-July of 2023-24 against 12.29 lt in the corresponding period of the previous fiscal, registering a growth of 28 per cent, as soyameal shipments revived.

The overall export of oilmeals increased to 3.18 lt in July against 2.23 lt in July 2022, up 70 per cent.

On the growth in the export of oilmeals, BV Mehta, Executive Director of Solvent Extractors’ Association of India (SEA), said India’s soyabean meal was outpriced in the international market last fiscal. However, the export of soyabean meal revived during the current fiscal. India exported 4.20 lt of soyabean meal during the first four months of 2023-24 against 90,073 tonnes in the corresponding period a year ago.

Stating that the export of rapeseed meal is performing better, he said India exported 8.94 lt of rapeseed meal during April-July against 8.51 lt a year ago.

India exported 1.51 lt of ricebran extractions (1.90 lt last year), and 1.16 lt castorseed meal (1.05 lt) during the period.

He said the Directorate-General of Foreign Trade has issued a notification dated July 28, prohibiting the export of de-oiled ricebran until November 30. This decision could have far-reaching impact on domestic ricebran processors and export of de-oiled ricebran, he said.

Export of groundnut meal witnessed a significant growth of 308 per cent in the first four months. India exported 8,493 tonnes of groundnut meal during April-July 2023-24 against 2,078 tonnes in the year-ago period.

Major buyers

South Korea imported 3.49 lt of oilmeals against 4.24 lt a year ago. This included 2.84 lt of rapeseed meal, 47,415 tonnes of castorseed meal, and 17,375 tonnes of soyabean meal.

India exported 2.42 lt of oilmeals (2.26 lt) to Vietnam. This consisted of 90,540 tonnes of ricebran extraction, 1.03 lt of rapeseed meal, 48,371 tonnes of soyabean meal, and 453 tonnes of groundnut meal.

Thailand imported 2.46 lt (1.56 lt) of oilmeals including 2.35 lt of rapeseed meal, 5,984 tonnes of soyabean meal, 4,666 tonnes of ricebran extraction, and 701 tonnes of castorseed meal.

Bangladesh’s import of oilmeals increased to 3.28 lt (1.44 lt). This included 27,771 tonnes of ricebran extractions, 1.39 lt of rapeseed meal, and 1.61 lt of soyabean meal.