The Solvent Extractors’ Association of India has compiled the export data for export of oilmeals for the month of August, 2024 provisionally reported at 314,363 tons compared to 354,206 tons in August 2023 i.e. down by 11%. The overall export of oilmeals during April to August 2024 reported at 1,868,789 tons compared to 1,945,553 tons during the same period of last year i.e. down by 4%, mainly due to reduction in export of rapeseed meal, castorseed meal.

In the first five months of the current year (April to August 2024) the export of soybean meal jumped and reported at 8.48 lakh tons compared to 4.81 lakh tons of the same period of last year, thanks to higher import by Iran and France.  The Bangladesh and South Korea are the major importer of rapeseed meal. The current crises in Bangladesh may affect at least temporarily halting of export of rapeseed meal, mainly exported by Road or Rail Rakes. 

Export of Oilmeals – April – August 2024 (Qty. in M.T.)

Month Soybean
Meal
Rapeseed
Meal
G. Nut
Meal
Rice Bran Ext. Castor
Seed Meal
Total Last Year Difference
Apr.,2024 199,803 230,810 156 --- 34,387 465,156 493,448 (-) 6%
May. 2024 144,706 133,263 1,311 --- 23,000 302,280 436,597 (-) 31%
June 2024 152,351 159,447 2,009 --- 21,388 335,196 280,001 (+) 20%
July 2024 195,162 234,507 --- --- 22,125 451,794 381,302 (+) 18%
August 2024 156,961 126,610 1,186 14,039 15,567 314,363 354,205 (-) 11%
Apr.-Aug. 2024
Apr.-Aug. 2023
848,982
481,315
884,638
1,155,282
4,662
10,652
14,039
151,614
116,467
146,690
1,868,789
1,945,553
1,945,553 (-) 4%
2023-24 (F.Y.) 2,133,047 2,213,415 14,833 151,614 372,529 4,885,437    
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    
2020-21 (F.Y.) 1,564,833 1,113,021 15,995 575,770 419,864 3,689,483    

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

Meal Aug
2024
July
2024
June
2024
May
2024
Apr
2024
Mar
2024
Feb
2024
Jan
2024
Dec
2023
Nov
2023
Oct
2023
Sept
2023
Aug
2023
Soybean Meal 473 489 497 506 492 491 506 517 539 556 521 545 547
Rapeseed Meal 273 286 289 284 278 285 311 326 324 322 319 314 295
Castorseed Meal 86 84 82 77 76 80 78 89 103 101 105 120 123
De-oiled Rice .Bran NQ NQ NQ NQ NQ NQ NQ NQ NQ NQ NQ NQ NQ
E: 1US$ = Rs. 83.88 83.59 83.46 83.39 83.40 83.02 82.95 83.11 83.25 83.26 83.21 83.07 82.81

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

During April-August 2024, South Korea imported 338,945 tons of oilmeals (compared to 382,250 tons); consisting of 250,666 tons of rapeseed meal,  64,231 tons of castorseed meal and 24,048 tons of soybean meal. Vietnam imported 113,666 tons of oilmeals (compared to 285,136 tons); consisting of 93,424 tons of  rapeseed meal,  7,375 tons of soybean meal, 10,970 tons De-oiled Rice Bran Extraction  and 1,897 tons of groundnut meal. Thailand imported 182,779 tons of oilmeals (compared to 349,358 tons); consisting of 179,726 tons of rapeseed meal and 3,025 tons of soybean meal. Bangladesh sourcing rapeseed meal and  soybean meal from India  and imported 325,761 tons of oilmeals (compared to 382,199 tons), consisting of  284,995 tons of rapeseed meal and 40,766 tons of soybean meal. Iran has turned out to be largest importer of Soybean meal from India (including shipment via Dubai) and imported 114,475 tons of soybean meal.

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

Country April-August 2024 April-August 2023 % Change
South Korea 338,945 382,250 (-) 11.32%
Vietnam 113,666 285,135 (-) 60.14%
Thailand 182,779 349,358 (-) 47.68%
Bangladesh 325,761 382,199 (-) 14.77%
Iran 114,475 10,509 --
Taiwan 60,767 83,183 (-) 26.94%

Port-wise Export of Oilmeals : Apr-August 2024

The export from Kandla is reported at 682,785 tons (37%), followed by Mundra handled 410,492 tons (22%), Mumbai including JNPT handled 303,916 tons (16%) and Others Ports handled 460,101 tons (25%).

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

Port April-August 2024 April-August 2023 % Change
Kandla 682,785 420,174 (+) 62.50%
Mumbai/JNPT 303,916 157,495 (+) 92.96%
Mundra 410,492 731,902 (-) 43.91%
Kolkata 11,494 110,210 (-) 89.57%
Others 460,101 525,771 (-) 12.49%
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