Commodities Buzz: Oilmeals Exports Jump 48% In Value Terms Last Fiscal

The Solvent Extractors Association of India has compiled the export data for export of oilmeals for the month of April 2018. The overall export of oilmeals during April 2018, provisionally reported at 155,069 tons compared to 203,698 tons in April 2017. The export of rapeseed meal is sharply increased to nearly 100,000 tons, mainly exported to South Korea.

The overall export of oilmeals during the year (2017-18) has revived and has been reported at 3,025,538 tons compared to 1,885,480 tons during the same period of last year (2016-17). In term of value the total earning has increased to Rs. 4,758 crores compared to Rs. 3219 crores, up by 48%. thanks to higher export of Rapeseed Meal of 663,988 (Up by 209%), Ricebran Extractions of 594,129 tons (Up by 77%) and Castorseed Meal of 572,762 tons (Up by 39%). The efforts made by SEA in promoting export of various oilmeals has yielded positive results. The export of Rapeseed Meal, De-oiled Rice Bran ,Castorseed Meal and Groundnut Meal service by SEA reached to 1,837,720 tons (Valued at Rs.1850 Crores) compared to 965,011 tons in 2016-17 (Valued at Rs.984 Crores) i.e. up by 90%.

South Korea, France, Vietnam – Major Importers of Oilmeals:- During April, 2018 Vietnam imported 8,381 tons of oilmeals (compared to 38,367 tons); consisting of 400 tons of soybean meal, 381 tons of rapeseed meal and 7,600 tons of De-oiled Rice Bran Extraction. South Korea imported 95,579 tons of oilmeals (compared to 11,639 tons) ; consisting 94,755 tons of rapeseed meal and 824 tons of soybean meal. Bangladesh imported 15,790 tons of of soybean meal. France imported 23,504 tons of oilmeals (compared to 1,144 tons); consisting 22,995 tons of soybean meal and 509 tons of Castor meal.

April 2018 The export from Kandla is reported at 132,940 tons (86%), followed by Mumbai including JNPT handled 6,669 tons (4%), and Mundra handled 7,860 tons (5%) and Kolkata handled 7,600 tons (5%).