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India's oil meal exports up 19 pc at 2.27 lakh tonnes in July: SEA.

Date: 18-08-2022
Subject: India's oil meal exports up 19 pc at 2.27 lakh tonnes in July: SEA
The country's oil meal exports increased 19 per cent to 2,27,247 tonnes in July this year due to rise in shipments of rapeseed meals, according to Solvent Extractors' Association (SEA) of India. Oil meal exports during July 2021 stood at 1,91,663 tonnes, SEA data said.

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.

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 USD 295 FOB (Freight On Board) India, while rapeseed Hamburg ex-mill is at USD 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.

Current price of soybean meal FOB Kandla (Gujarat) is quoted at USD 675 per tonne, while soybean meal Argentina CIF Rotterdam is quoted at USD 548 per tonne and Brazil at USD 534 per tonne.

Meanwhile, export of castor meal has marginally declined at 22,401 tonnes and rice bran extraction is maintained at the same level at 45,225 tonnes 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, the data add.
 Source Name:-Economic Times

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