A rise within the export of rapeseed meal and soyabean meal helped India report a 60 per cent progress within the export of oilmeals through the first 9 months of 2022-23.
In accordance with the info accessible with Solvent Extractors’ Affiliation (SEA) of India, the nation exported 28.25 lakh tonnes (lt) of oilmeals durung April-December of 2022-23 in opposition to 17.67 lt within the corresponding interval of 2021-22, recording a progress of 60 per cent.
Export of oilmeals was provisionally reported at 4.33 lt throughout December 2022 when in comparison with 1.70 lt in December 2021, a rise of 153.66 per cent.
BV Mehta, Govt Director of SEA of India, mentioned the export of rapeseed meal has set a brand new report of 16.71 lt throughout first 9 months of 2022-23, and broke the sooner report of 12.48 lt in 2011-12. India had exported 7.13 lt of rapeseed meal throughout April-December of 2021-22.
At the moment, India is essentially the most aggressive provider of rapeseed meal to South Korea, Vietnam, Thailand and different Far East nations at $255 a tonne (FOB India) whereas rapeseed meal (Hamburg ex-mill) is quoted at $405 a tonne, he mentioned.
The higher realisation from rapeseed (mustard) oil and export of rapeseed meal not solely supported home value of mustard seed but additionally inspired bigger sowing space below mustard crop throughout present rabi season, he mentioned. The realm below mustard was reported at about 97 lakh hectares (lh) through the present rabi season compared with 90 lh within the earlier season.
With the autumn within the value of native soyabean to the extent of ₹5,650 a quintal, native soyabean meal value additionally fell to ₹42,800 a tonne from ₹53,000 a tonne in June 2022. This has made the export of soyabean meal enticing, he mentioned.
India exported 4.47 lt of soyabean meal throughout April-December of 2022-23 in opposition to 2.62 lt within the corresponding interval of the earlier fiscal, recording a progress of 70.54 per cent.
With decrease than anticipated soyabean crop and crushing in Argentina, soyabean meal export is anticipated to extend from the opposite origins. The provides from the US, Brazil and India are more likely to improve at higher value, he mentioned. On January 13, Brazil soyabean meal value (ex-Rotterdam) was quoted at $614 a tonne whereas Indian soyabean meal (ex-Kandla) was at $545 a tonne, he mentioned.
South-East Asia is the most important client of Indian soybean meal. India has a logistic benefit right here and in addition can provide in small heaps, he mentioned.
Indian soyabean meal being non-GMO has a bonus, and being most popular by sure European nations and the US. The rupee depreciation can be pushing the general export. This helped India to revive the export of soyabean meal in November and December. India shipped 2.85 lt of soyabean meal throughout November-December of 2022-23 in opposition to 86,211 tonnes within the corresponding interval of 2021-22.
S Korea main importer
Mehta mentioned South Korea has emerged as the most important importer of oilmeals through the first 9 months of 2022-23. India exported 7.15 lt of oilmeals to South Korea throughout April-December of 2022-23 (when in comparison with 4.65 lt within the corresponding interval of 2021-22). This included 4.93 lt of rapeseed meal, 1.97 lt of castorseed meal, and 24,638 tonnes of soyabean meal.
This was adopted by Vietnam. India exported 6.84 lt of oilmeals to Vietnam (4.22 lt). This included 2.93 lt of ricebran extraction, 1.99 lt of rapeseed meal, 1.86 lt of soyabean meal and 4,500 tonnes of groundnut meal.
Throughout the first 9 months of 2022-23, Thailand imported 5.09 lt of oilmeals (1.42 lt) from India. This included 5.03 lt of rapeseed meal, 2,205 tonnes of soyabean meal, 337 tonnes of groundnut meal and 500 tonnes of rice bran extraction.
Bangladesh imported 2.77 lt of oilmeals (2.77 lt) from India throughout April-December of 2022-23. This included 53,913 tonnes of ricebran extractions, 2.12 lt of rapeseed meal, and 11,516 tonnes of soyabean meal.
Taiwan imported 94,327 tonnes of oilmeals (74,685 tonnes) from India throughout April-December of 2022-23. This included 59,965 tonnes of castorseed meal, 25,479 tonnes of rapeseed meal, 6,463 tonnes of groundnut meal, and a pair of,420 tonnes of soyabean meal.