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% |