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India’s exports of oil meal increase 19% to 2,27,247 tonnes in July: SEA
Aug-18-2022

The Solvent Extractors' Association (SEA) of India in its latest data has showed that the country’s exports of oil meal increased 19 per cent to 2,27,247 tonnes in July 2022 from oil meal exports of 1,91,663 tonnes during July 2021. The overall export of oil meals during April-July jumped 35 per cent to 12,48,512 tonnes compared to 9,27,555 tonnes in the same period of the previous year. The growth in export was due to rise in shipments of rapeseed meals.

Exports of rapeseed meal during April-July showed a quantum jump of 77 per cent at 8,51,212 tonnes compared to 4,79,572 tonnes following a record crop and crushing which led to high processing, availability and exports, SEA said. Currently, India ships rapeseed meal to South Korea, Vietnam, Thailand and other Far East Countries at $295 FOB (Freight On Board) India, while rapeseed Hamburg ex-mill is at $376. FOB is used when liability and ownership of goods is transferred from a seller to a buyer.

SEA further stated that soybean meal export is at the lowest level as Indian shipment is still outpriced in the international market. Soybean meal export stood at 90,711 tonnes in April-July period of 2022 down from 144,782 tonnes in the corresponding period of 2021. Current price of soybean meal FOB Kandla (Gujarat) is quoted at $675 per tonne, while soybean meal Argentina CIF Rotterdam is quoted at $548 per tonne and Brazil at $534 per tonne. Meanwhile, export of castor meal has marginally declined at 22,401 tonnes in July 2022 and rice bran extraction is maintained at the same level at 45,225 tonnes in July this year compared to the same period of last year.

South Korea was the major importer of oil meals from India during April-July with 4,24,719 tonnes compared to 2,77,034 tonnes during the same period of last year, which included 3,55,280 tonnes of rapeseed meal, 55,719 tonnes of castor seed meal and 13,720 tonnes of soybean meal. Vietnam imported 2,26,606 tonnes of oil meals compared to 1,64,115 tonnes last year, consisting of 1,36,014 tonnes of rice bran extraction, 88,569 tonnes of rapeseed meal, 1,575 tonnes of soybean meal and 448 tonnes of groundnut meal.

Thailand imported 1,56,821 tonnes of oil meals compared to 1,17,388 tonnes during the first four months of 2021, consisting of 1,55,835 tonnes of rapeseed meal and 986 tonnes of soybean meal. Bangladesh sourced rapeseed meal and rice bran extraction from India and imported 1,44,667 tonnes of oil meals compared to 1,23,741 tonnes, including 31,672 tonnes of rice bran extractions and 1,12,991 tonnes of rapeseed meal. Taiwan imported 50,582 tonnes of oil meals during April-July compared to 32,823 tonnes in the corresponding period of 2021, which included 37,569 tonnes of castor seed meal, 10,915 tonnes of rapeseed meal, 1,569 tonnes of groundnut meal and 529 tonnes of soybean meal.
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