Sub- Export of Oilmeals in India - April – July ’24 – down by 2%

The Solvent Extractors’ Association of India has compiled the export data for export of oilmeals for the month of July, 2024 provisionally reported at 451,794 tons compared to 381,302 tons in July 2023 i.e. up by 18%. The overall export of oilmeals during April to July 2024 reported at 1,554,426 tons compared to 1,591,348 tons during the same period of last year i.e. down by 2%, mainly due to reduction in export of rapeseed meal, castorseed meal and no export of De-oiled Rice Bran since Sept.’23  due to export prohibition.

The Government of India has decided to extend export prohibition of De-oiled Rice Bran till 31st January, 2025. This will seriously affect the solvent extraction units located in West Bengal processing rice bran. In the first four months of the current year (April to July 2024) the export of soybean meal jumped and reported at 6.92 lakh tons compared to 4.20 lakh tons of the same period of last year, thanks to higher import by Iran and France.  The Bangladesh is one of 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 – July 2024 (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-July 2024, South Korea imported 322,106 tons of oilmeals (compared to 349,579 tons); consisting of 249,679 tons of rapeseed meal,  55,269 tons of castorseed meal and 17,159 tons of soybean meal. Vietnam imported 79,945 tons of oilmeals (compared to 242,430 tons); consisting of 71,627 tons of  rapeseed meal,  6,554 tons of soybean meal and 1,764 tons of groundnut meal. Thailand imported 121,540 tons of oilmeals (compared to 246,412 tons); consisting of 119,010 tons of rapeseed meal and 2,503 tons of soybean meal. Bangladesh sourcing rapeseed meal and  soybean meal from India  and imported 288,027 tons of oilmeals (compared to 328,439 tons), consisting of  249,002 tons of rapeseed meal and 39,025 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.)

Port-wise Export of Oilmeals : Apr-June 2024

The export from Kandla is reported at 553,919 tons (36%), followed by Mundra handled 346,775 tons (22%), Mumbai including JNPT handled 257,843 tons (17%) and Others Ports handled 395,887 tons (25%).

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