India’s oilmeals exports surge 18% in July 2024

The Solvent Extractors' Association of India (SEA) in its report has said that India’s oilmeals exports increased 18.49% to 4,51,794 tonnes in July 2024 as compared to 3,81,302 tonnes in July 2023. The overall export of oilmeals during April to July 2024 reported at 1,554,426 tonnes compared to 1,591,348 tonnes 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 September, 2023 due to export prohibition. 

Of the total, the export of soyabean meal stood at 1,95,162 tonnes in July 2024. Export of rapeseed meal was at 2,34,507 tonnes in same month. The export of castorseed meal stood at 22,125 tonnes in July 2024. The Government of India has decided to extend export prohibition of De-oiled Rice Bran till January 31, 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 692,021 tonnes compared to 420,820 tonnes 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.

South Korea, Thailand, Vietnam and Bangladesh are the major importer of Indian Oilmeals During April-July 2024, South Korea imported 322,106 tonnes of oilmeals (compared to 349,579 tonnes); consisting of 249,679 tonnes of rapeseed meal, 55,269 tonnes of castorseed meal and 17,159 tonnes of soybean meal. Vietnam imported 79,945 tonnes of oilmeals (compared to 242,430 tonnes); consisting of 71,627 tonnes of rapeseed meal, 6,554 tonnes of soybean meal and 1,764 tonnes of groundnut meal. Thailand imported 121,540 tonnes of oilmeals (compared to 246,412 tonnes); consisting of 119,010 tonnes of rapeseed meal and 2,503 tonnes of soybean meal. Bangladesh sourcing rapeseed meal and soybean meal from India and imported 288,027 tonnes of oilmeals (compared to 328,439 tonnes), consisting of 249,002 tonnes of rapeseed meal and 39,025 tonnes of soybean meal. Iran has turned out to be largest importer of Soybean meal from India (including shipment via Dubai) and imported 114,475 tonnes of soybean meal.