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Oilmeal exports jump 21% in April-August.

Date: 08-09-2018
Subject: Oilmeal exports jump 21% in April-August
The exports of oilmeals during April to August 2018 is reported at 11,92,095 tonne compared to 9,86,606 tonne during the same period last year – up by 21% – according to figures compiled by the Solvent Extractors’ Association of India (SEA).

The export of rapeseed meal is sharply increased to nearly 4,90,232 tonne (107%) in first five months, mainly exported to South Korea, Vietnam and Thailand. The ongoing trade dispute between USA and China has created a lot of uncertainty, forcing China to look out for other origins for their requirements of soybean and oilmeals, said BV Mehta, executive director, SEA. This has compelled China to re-look at its ban imposed on oilmeals imports from India since 2012, he added, stating that this will open up Chinese market for India.

Late last month, the ministry of commerce and Indian embassy in Beijing had discussed the phyto issues and it was decided that India’s phyto certificate would cover all the 12 pests. This shall enable China’s AQSIQ to clear the Indian oilmeals. A formal reconfirmation from China is awaited. Prior to ban in 2012, China used to import nearly half-a-million tonne of oilmeals – rapeseed meal 3.5-4 lakh tonne and 1 lakh tonne of soybean meal from India. During April-August 2018, Vietnam imported 2,35,723 tonne oilmeals (compared to 1,67,604 tonne); consisting of 7,160 tonne soybean meal, 77,160 tonne rapeseed meal, and 1,51,403 tonne rice bran extraction. South Korea imported 3,49,992 tonne oilmeals (compared to 3,37,270 tonne), consisting 2,31,610 tonne rapeseed meal, 10,832 tonne soybean meal and 107,550 tonne castor meal. Thailand imported 1,30,988 tonne of oilmeals (compared to 57,228 tonne), consisting 4,747 tonne soybean meal, 9,633 tonne of De-oiled rice bran extraction, and 116,572 tonne rapeseed meal.

Source: financialexpress.com

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