MUMBAI, 18 Jun (Commoditiescontrol): India's oilmeal exports witnessed a significant decline in May 2024, with volumes dropping 31% to 302,280 tons compared to 436,597 tons in May 2023, according to the Solvent Extractors’ Association of India (SEA). The overall export of oilmeals from April to May 2024 stood at 767,436 tons, down 17% from 930,045 tons during the same period last year. The decline is mainly attributed to reduced exports of rapeseed meal and castorseed meal.
India, a major exporter of Deoiled Ricebran, typically ships between 500,000 to 600,000 tons annually to countries such as Vietnam, Thailand, and other Asian markets, establishing itself as a reliable international supplier. However, the government prohibited the export of Deoiled Ricebran on July 28, 2023, due to high fodder prices, extending the ban initially until March 31, 2024, and later until July 31, 2024. With Deoiled Ricebran prices now at lower levels and expected to decrease further due to increased availability of DDGS, the Association has appealed to the government not to extend the prohibition beyond July 31, 2024.
In terms of specific markets, South Korea imported 166,583 tons of oilmeals during April-May 2024, down from 189,705 tons in the same period last year. The imports included 132,874 tons of rapeseed meal, 27,101 tons of castorseed meal, and 6,608 tons of soybean meal. Vietnam imported 32,699 tons of oilmeals, a significant drop from 142,285 tons, consisting of 29,383 tons of rapeseed meal, 3,014 tons of soybean meal, and 302 tons of groundnut meal.
Thailand's imports fell to 57,390 tons from 152,053 tons, with 55,767 tons of rapeseed meal and 1,624 tons of soybean meal. Bangladesh imported 139,006 tons of oilmeals, down from 193,606 tons, sourcing 114,916 tons of rapeseed meal and 24,090 tons of soybean meal from India. Iran emerged as the largest importer of soybean meal from India, including shipments via Dubai, with a total of 81,475 tons.
Export activities were concentrated in major ports, with Kandla handling 245,645 tons (32%), followed by Mundra with 192,987 tons (25%), Mumbai including JNPT with 134,683 tons (18%), and other ports managing 194,120 tons (25%).
The reduction in oilmeal exports and the plea to lift the export ban on Deoiled Ricebran reflect ongoing challenges and adjustments in India's agricultural export sector, influenced by both domestic policy and international market dynamics.
(By Commoditiescontrol Bureau; +91 98201 3018)
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