Export of Oilmeals from India – April – May 2023 - Up by 59%. Surge in Export of Soybean Meal

The Solvent Extractors’ Association of India has compiled the export data for export of oilmeals for the month of May, 2023 provisionally reported at 436,596 tons compared to 254,062 tons in May 2022 i.e. up by 72%. The  overall export of oilmeals during April to May 2023 reported at 930,044 tons compared to 586,415 tons during the same period of last year, mainly due to sharp increased in export of soybean meal and rapeseed meal.

Surge in  Export of Soybean Meal :

With fall in local Soybean price to level of Rs.4900 per quintal from the highest level of Rs.7640 per quintal in April 2022, made export of soybean meal attractive in last few months and helped to revive the export. Currently as on 19th June, 2023, Indian soybean meal Ex-Kandla has quoted at US$ 595 per ton. The major consumer of Indian soybean meal are South East Asia, where India has a logistic advantage and also can supply in small lots. Also, Indian Soybean Meal being Non GMO has an advantage and being preferred by certain European countries and U.S.A.  The rupee depreciation also pushing the overall export.

Export of Rapeseed Meal :

It is hearting to note during current financial year (2022-23), export of rapeseed meal has set a new record and reported at 22,96,943 tons, ever highest since export started. The trend of export of rapeseed meal continued during April-May 2023  and reported at 480,000 tons compared to 398,000 tons in corresponding period of 2022. Currently India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East Countries @ US$ 270 per ton FOB India while rapeseed meal Hamburg ex-mill quoted at US$ 316 per ton. 

Export of Oilmeals – April – May 2023 (Qty. in M.T.)

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

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

During April – May 2023, South Korea imported 189,704 tons of oilmeals (compared to 216,789 tons); consisting of 156,252 tons of rapeseed meal, 25,554 tons of castorseed meal and 7,898 tons of soybean meal. Vietnam imported 142,285 tons of oilmeals (compared to 125,598 tons); consisting of 41,607 tons of  rice bran extraction, 52,895 tons of rapeseed meal, 47,341 tons of soybean meal and 442 tons of groundnut meal. Thailand imported 152,054 tons of oilmeals (compared to 61,539 tons); consisting of 143,473 tons of rapeseed meal, 4,714 tons of soybean meal, 3,166 tons of rice bran extraction and 701 tons of castorseed meal. Bangladesh sourcing rapeseed meal and  soybean meal from India  and imported 193,607 tons of oilmeals (compared to 70,574 tons), consisting of 20,235 tons of ricebran extractions, 53,553 tons of rapeseed meal and 119,819 tons of soybean meal.

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

Port-wise Export of Oilmeals : Apr.- May 2023

The export from Kandla is reported at 241,410 tons (26%), followed by Mundra handled 300,187 tons (32%), Mumbai including JNPT handled 93,454 tons (10%), Kolkata handled 52,130 tons (6%) and Others Ports handled 242,863 tons (26%).

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

 We are attaching here-below a Month-wise/Port-wise/Country-wise statements of export of oilmeals during April to May 2023 with comparative period for previous year for your kind information and necessary coverage in your esteemed media and oblige.