Sub – Export of Oilmeals from India - April-Nov., 2023 – Up by 21%

The Export of Oilmeals for the month of November, 2023 is provisionally reported at 317,870 tons compared to 407,193 tons in Nov., 2022 i.e. down by 22%.  The overall export of oilmeals during April to Nov., 2023 reported at 2,883,921 tons compared to 2,382,690 tons i.e. up by 21%.  

Surged  in  Export of Soybean Meal :

International demand for Indian Soya meal has benefited from improved price competitiveness and the shortage of Argentine export supplies in recent months. The total export during April to November 2023 reported at 8.57 lakh tons compared to 3.25 lakh tons during the same period of last year. Currently as on 14th Dec.,2023, Indian soybean meal Ex-Kandla has quoted at US$ 540 per ton while soyameal Argentine cif Rotterdam at US$ 545 per ton which boosted the Indian soybean meal export from the new crops.  The major consumer of Indian soybean meal are South East Asia, where India has a logistic advantage and also can supply in small lots.

Export of Rapeseed Meal  :

It is hearting to note during last financial year (2022-23), export of rapeseed meal has set a new record and reported at 22.96 lakh tons, ever highest since export started. The trend of export of rapeseed meal continued in current year and reported at 16.07 lakh tons during the period April to November 2023 compared to 14.74 lakh tons during the same period of last year  i.e. up by 9%.  Currently India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East Countries @ US$ 326 per ton FOB India while rapeseed meal Hamburg ex-mill quoted at US$ 334 per ton.

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

Ban on Export of De-oiled Ricebran Extended :

With the commencement of the new season, the processing of Rice Bran has witnessed a significant uptick. This has led to a commendable improvement in the availability of de-oiled rice bran, manifesting in a notable reduction in price from Rs. 18,000 per ton on July 28, 2023 (the date of issuing the notification) to the current price of Rs. 12,800 per ton. It is anticipated that the prices may further decrease as the availability of rice bran processing continues to increase.  

However, despite the positive outlook in the industry, there is an unfortunate setback. The Government of India has decided to extend the ban on the export of de-oiled rice bran until March 31, 2024, contrary to the expectations of the industry.

This decision has particularly severe implications for the Eastern states, including West Bengal, which are significant producers of Rice Bran Extraction. The underdeveloped nature of the cattle feed industry in Eastern India has resulted in limited demand for Rice Bran Extraction domestically. Consequently, with the ban on export persisting, Rice Bran Processors in Eastern India are now confronted with the looming threat of shutting down their operations. This not only adversely impacts the rice milling industry but also poses a risk to the overall production of Rice Bran Oil.

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 to Nov., 2023, South Korea imported 555,196 tons of oilmeals (compared to 603,779 tons); consisting of 377,367 tons of rapeseed meal, 151,158 tons of castorseed meal and 26,671 tons of soybean meal. Vietnam imported 335,961 tons of oilmeals (compared to 567,372 tons); consisting of 90,540 tons of  rice bran extraction, 194,833 tons of rapeseed meal, 49,683 tons of soybean meal and 905 tons of groundnut meal. Thailand imported 462,136 tons of oilmeals (compared to 433,961 tons); consisting of 449,730 tons of rapeseed meal, 7,039 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 595,479 tons of oilmeals (compared to 246,180 tons), consisting of 27,771 tons of ricebran extractions, 303,999 tons of rapeseed meal and 263,710 tons of soybean meal.

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

Port-wise Export of Oilmeals : Apr.-Nov., 2023

The export from Kandla is reported at 687,085 tons (24%), followed by Mundra handled 1,055,941 tons (37%), Mumbai including JNPT handled 220,084 tons (8%), Kolkata handled 110,223 tons (4%) and Others Ports handled 810,589 tons (28%).

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