Rapeseed meal helps boost overall exports of oilmeals

An over 80 per cent jump in rapeseed meal export helped India to register 69.05 per cent growth in the overall export of oilmeals in June compared with May. The overall export of oilmeals from the country has grown 38.78 per cent during the first quarter of the current fiscal.

According to Solvent Extractors’ Association of India (SEA) data, the country exported 4.31 lakh tonnes (lt) of oilmeals in June against 2.55 lt in May. Overall exports increased to 10.21 lt during the Q1 of 2022-23 against 7.35 lt in the corresponding period.

BV Mehta, Executive Director of SEA, said the export of rapeseed meal jumped to 7.06 lt during the first quarter against 3.84 lt in the year-ago period, recording a growth of 83.70 per cent. The country exported 3.08 lt in June against 1.69 lt in May, up 82.41 per cent.

It is the highest export in any single month in the last few years. A record crop of rapeseed and crushing resulted in the highest processing and availability of rapeseed meal and helped boost export, he said.

India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East countries at $295 a tonne FOB, while rapeseed from Hamburg ex-mill is pegged at $331 a tonne, he said.

However, the export of soyabean meal declined by 35.55 per cent in the first quarter. The country exported 76,093 tonnes of soyabean meal (1.18 lt a year ago).

Mehta said the export of soyabean meal is at the lowest level, as India is still outpriced in the international market. Current price of soyabean meal FOB Kandla is quoted at $675 a tonne against CIF price of $522 a tonne for Brazil origin and $539 a tonne for Argentina (ex-Rotterdam).

Export of castorseed meal has improved marginally from 79,271 tonnes a year ago to 83,279 tonnes this quarter, a rise of 5.06 per cent. Export of ricebran extraction was unchanged at 1.53 lt.

S Korea top importer

Mehta said South Korea and Vietnam emerged as the major importers of Indian oilmeals during the first quarter of 2022-23.

South Korea imported 3.38 lt (2.52 lt) of oilmeals from India consisting of 2.87 lt of rapeseed meal, 40,891 tonnes of castorseed meal and 10,340 tonnes of soyabean meal. Vietnam imported 1.84 lt (1.14 lt) of oilmeals from India consisting of 1.06 lt of rice bran extraction, 76,552 tonnes of rapeseed meal, 1,365 tonnes of soyabean meal, and 316 tonnes of groundnut meal.

Thailand imported 1.34 lt (77,003 tonnes) of oilmeals from India consisting of 1.33 lt of rapeseed meal and 809 tonnes of soyabean meal. Bangladesh imported 1.25 lt (90,589 tonnes) of oilmeals from India consisting of 23,972 tonnes of ricebran extractions, and 1.01 lt of rapeseed meal. Taiwan imported 40,369 tonnes of oilmeals (23,944 tonnes) from India consisting of 32,859 tonnes of castorseed meal, 6,028 tonnes of rapeseed meal, 1,006 tonnes of groundnut meal, and 476 tonnes of soyabean meal.

Published on

July 19, 2022

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