The Export of Oilmeals for the month of February 2024 is provisionally reported at 515,704 tons compared to 471,770 tons in February 2023  i.e. up by 9%.  The overall export of oilmeals during April 2023 to February 2024 reported at 4,490,055 tons compared to 3,760,329 tons i.e. up by 19%. 

Export of Oilmeals – Apr.’23 – Feb.’24 (Qty. in M.T.)

Month Soybean
Meal
Rapeseed
Meal
G. Nut
Meal
Rice Bran Ext. Castor
Seed Meal
Total Last Year Difference
Apr.,2023 177,243 246,568 2,681 37,479 29,477 493,448 332,353 (+) 48%
May. 2023 114,228 233,663 2,546 42,398 43,761 436,596 254,062 (+) 72%
June 2023 73,139 140,506 3,138 45,705 17,512 280,001 429,616 (-) 35%
July 2023 56,210 273,379 128 26,032 25,554 381,302 223,951 (+) 70%
Aug,2023 60,494 261,165 2,159 --- 30,386 354,205 281,693 (+) 26%
Sept.,2023 105,535 189,213 514 --- 35,306 330,568 240,669 (+) 37%
Oct.,2023 87,060 169,422 1,980 --- 31,469 289,931 213,153 (+) 36%
Nov.,2023 263,549 93,124 662 --- 40,655 397,991 407,193 (-)  2%
Dec., 2023 273,394 216,942 --- --- 42,393 532,729 433,429 (+) 23%
Jan.,2024 375,360 71,472 --- --- 30,748 477,580 472,439 (+)  1%
Feb.,2024 347,905 144,372 1,025 --- 22,402 515,704 471,770 (+)  9%
Apr.’23-Feb,’24
Apr.’22- Feb.’23
1,934,118
787,203
2,039,826
2,048,880
14,833
28,691
151,614
544,085
349,664
351,470
4,490,055
3,760,329
3,760,329 (+) 19%
2022-23 (F.Y.) 1,022,436 2,296,943 29,873 595,855 391,180 4,336,287    
2021-22 (F.Y.) 372,740 866,407 3,593 749,810 382,424 2,374,974    

Export of Soybean Meal and Rapeseed Meal Slow down :  

The export of soybean meal during Apr.’23 to Feb.’24, reported at 19.34 lakh tons compared to 7.87 lakh tons during the same period of last year as Indian soybean meal was most competitive in the international market  However, currently as on 13th Mar.,2024, Indian soybean meal Ex-Kandla has quoted at US$ 490 per ton while soya meal Argentine cif Rotterdam at US$ 415 per ton facing strong competition from Argentine origin and likely to slow down.  

In case of rapeseed processing in India likely below potential in coming months due to disparity in crushing. The export sale of rapeseed meal have slowed down pronouncedly of late owing to growing competition from soya meal on the world market. The export of rapeseed meal during Apr.’23 to Feb.’24 reported at 20.40 lakh tons compared to 20.48 lakh tons during the same period of last year.

Average Prices and Rupee depreciation:  (Price in US$/FAS Indian Port/Tons)

Meal Feb
2024
Jan
2024
Dec
2023
Nov
2023
Oct.
2023
Sept.
2023
Aug
2023
July
2023
June
2023
May
2023
Apr
2023
Mar
2023
Feb
2023
Soybean Meal 506 517 539 556 521 545 547 556 594 570 577 556 569
Rapeseed Meal 311 326 324 322 319 314 295 284 271 251 240 243 252
Castorseed Meal 78 89 103 101 105 120 123 119 116 112 102 103 121
De-oiled Rice .Bran NQ NQ NQ NQ NQ NQ NQ 213 188 185 195 195 209
E: 1US$ = Rs. 82.95 83.11 83.25 83.26 83.21 83.07 82.81 82.16 82.22 82.30 81.97 82.26 82.60

South Korea, Thailand, Vietnam and Bangladesh are the major importer of Indian Oilmeals

During Apr.’23 to Feb.’24, South Korea imported 787,909 tons of oilmeals (compared to 880,615 tons); consisting of 524,901 tons of rapeseed meal, 217,654 tons of castorseed meal and 45,354 tons of soybean meal. Vietnam imported 394,660 tons of oilmeals (compared to 885,146 tons); consisting of 90,540 tons of  rice bran extraction, 251,663 tons of rapeseed meal, 51,551 tons of soybean meal and 905 tons of groundnut meal. Thailand imported 604,782 tons of oilmeals (compared to 684,419 tons); consisting of 589,144 tons of rapeseed meal, 10,272 tons of soybean meal, 4,666 tons of rice bran extraction and 701 tons of castorseed meal. Bangladesh sourcing rapeseed meal and  soybean meal from India  and imported 779,558 tons of oilmeals (compared to 448,528 tons), consisting of 27,771 tons of ricebran extractions, 354,158 tons of rapeseed meal and 397,629 tons of soybean meal. Iran is emerging large importer of Indian soybean meal and imported 341,206 tons.

Major Importers of Oilmeals (Qty. in M.T.)

Country Apr.’23 – Feb. ‘24 Apr.’22 – Feb.’23 % Change
South Korea 787,909 880,615 (-)  10.52%
Vietnam 394,660 885,146 (-)  55.41%
Thailand 604,782 684,419 (-)  11.64%
Iran 341,266 3,946 ---
Bangladesh 779,558 448,528  (+)  73.80%
Taiwan 147,916 126,319 (+)  17.10%

Port-wise Export of Oilmeals : Apr.’23 – Feb.’24

The export from Kandla is reported at 1,535,413 tons (34%), followed by Mundra handled 1,336,881 tons (30%), Mumbai including JNPT handled 392,086 tons (9%), Kolkata handled 111,043 tons (2%) and Others Ports handled 1,114,633 tons (25%).

Export from Major Ports (Qty. in M.T.)   

Port Apr.’23 – Feb. ‘24 Apr.’22 – Feb.’23 % Change
Kandla 1,535,413 1,115,589 (+)  37.63%
Mumbai/JNPT 392,086 333,121 (+)  17.70%
Mundra 1,336,881 1,151,590 (+)  16.09%
Kolkata 111,043 382,586  (-)  70.98%
Others 1,114,633 777,442 (+)  43.37%

 

Regions
Countries
Tags