Oil meals exports in May 2022 report hike of 12%

Oil meals exports in May 2022 report hike of 12%

At 2,55,453 tonne in May 2022 compared to 2,28,319 tonne in May 2021, the export of oil meals for May 2022 has provisionally reported a hike of 12 per cent even as its overall export during April-May 2022 was reported at 5,89,425 tonne compared to 532,024 tonne that is, a hike by 11 per cent.

According to the data compiled by the Solvent Extractors' Association (SEA) of India, there has been a jump in the rapeseed meal export by nearly 45 per cent.

"First two months of the current year (2022-23), export of rapeseed meal has shown a sharp jump and reported at 3,98,355 tonne compared to 2,74,692 tonne i.e., up by 45 per cent," the data said.

As of now, India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other far-east countries.

"However, in the case of soybean meal, the export is at the lowest level as India is out priced in the international market. Current price of soybean meal free on board (FOB) Kandla is quoted at $720, while soybean meal Argentina CIF Rotterdam is quoted at $532 and Brazil at $525," said SEA Executive Director B.V. Mehta.

Export of rice bran extraction is down, however, the export of castor meal has marginally improved as compared to May 2021.

Data also showed that during April till May 2022, South Korea imported 2,16,739 tonne of oil meals (compared to 1,79,115 tonne in 2021); consisting of 1,83,325 tonne of rapeseed meal; 27,084 tonne of castor seed meal, and 6,330 tonne of soybean meal.

Vietnam imported 1,25,597 tonne of oil meals (compared to 85,636 tonne in 2021); consisting of 64,902 tonne of rice bran; 59,558 tonne of rapeseed meal; 821 tonne of soybean meal, and 316 tonne of groundnut meal.

Thailand imported 61,539 tonne of oil meals (compared to 64,788 tonne); consisting of 61,215 tonne of rapeseed meal and 324 tonne of soybean meal.

Bangladesh is sourcing rapeseed meal and rice bran extraction from India and imported 70,574 tonne of oil meals (compared to 74,066 tonne), consisting of 13,470 tonne of rice bran extractions and 57,104 tonne of rapeseed meal.

Taiwan imported 27,089 tonne of oil meals (compared to 14,167 tonne); consisting of 23,594 tonne of castor seed meal; 2,947 tonne of rapeseed meal; 299 tonne of groundnut meal and 249 tonne of soybean meal, the SEA data showed.

Giving a port-wise export of oil meals' break up for April-May 2022, the SEA data said the export from Kandla was reported at 1,99,377 tonne (34 per cent), followed by Mundra 1,70,923 tonne (29 per cent), Mumbai, including Jawaharlal Nehru Port Trust, handled 36,535 tonne (6 per cent), Kolkata 63,266 tonne (11 per cent) while other ports handled 1,19,324 tonne (20 per cent).

Source: IANS