Mumbai 17,Jan (commoditiescontrol)-Soybean/rapeseed meal exports during December 2022 stood at 433,430 tonnes, up from 170,869 tonnes in December 2021, showing an increase of 153%, as per the Solvent Extraction Association of India report.The total export of oilmeals from April to December 2022 aggregated to 2,825,456 tonnes, up 60% from 1,767,739 tonnes.
Record Rapeseed Meal Export - Increased Sowing:
It is encouraging to note that during the first nine months of the current financial year (2022-23), rapeseed meal exports hit a new high and surpassed the previous high of 12,48,000 tonnes in 2011-12 (F.Y.) and were recorded at 16,71,532 tonnes.
Currently, India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand, and other Far East countries, with a FOB India price of US$ 255 per tonne, whereas Hamburg ex-mill is quoted at US$ 405 per tonne.Rabi Season cultivation under oilseed reported around 97.0 lakh hectares compared to 90.0 lakh ha, an increase of 7.0 lakh ha.
Revival of Soybean Meal Exports: With the reduction in local soybean price to Rs.5650 per quintal, local soybean meal price stands reduced to Rs.42,800 per tonne from Rs. 53,000 tonnes in June 2022, making export attractive. Further, lower-than-anticipated Argentine soybean production and crushing, soybean meal exports from other origins are projected to climb. Supplies from the United States, Brazil, and India would grow at a lower cost. As of January 13th, 2030, the Brazilian soybean meal price ex-Rotterdam was quoted at US$ 614 per tonne, while the Indian soybean meal price ex-Kandla was quoted at US$ 545 per tonne.
South East Asia is the largest user of Indian soybean meal, as India has a logistical advantage and can supply in small numbers. Furthermore, because it is non-GMO, Indian Soybean Meal has an advantage and is desired by some European countries and the United States of America.
(Qty. in M.T.)
The rupee's devaluation has also pushed up overall exports. This aided India in reviving soybean meal exports in November and December 2022, with shipments totaling 285,213 tonnes, up from 86,211 tonnes in the previous November and December.
During Apr.- Dec.’22, South Korea imported 715,715 tons of oilmeals (compared to 465,735 tons);consisting of 493,392 tons of rapeseed meal, 197,663 tons of castorseed meal and 24,638 tons of soybean meal. Vietnam imported 684,251 tons of oilmeals (compared to 422,760 tons); consisting of 293,382 tons of rice bran extraction, 199,412 tons of rapeseed meal, 186,957 tons of soybean meal and 4,500 tons of groundnut meal. Thailand imported 509,415 tons of oilmeals (compared to 142,270 tons); consisting of 503,575 tons of rapeseed meal, 2,205 tons of soybean meal, 337 tons of groundnut meal and 500 tons of rice bran extraction. Bangladesh sourcing rapeseed meal and ricebran extraction from India and imported 277,859 tons of oilmeals (compared to 277,909 tons), consisting of 53,913 tons of ricebran extractions, 212,430 tons of rapeseed meal and 11,516 tons of soybean meal.Taiwan imported 94,327 tons of oilmeals (compared to 74,685 tons); consisting of 59,965 tons of castorseed meal, 25,479 tons of rapeseed meal, 6,463 tons of groundnut meal and 2,420 tons of soybean meal.
Kandla reported 920,673 tonnes (33%), Mundra handled 891,875 tonnes (32%), Mumbai with JNPT handled 181,808 tonnes (6%), and Kolkata handled 296,186 tonnes (10%) other ports handled 534914 tonnes (19%).
(Qty. in M.T.)
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