Soyameal, rapeseed meal drag India’s oilmeal exports down

Export of oilmeal from India declined by 64.74 for every cent in January, and 34.52 for each cent in the very first 10 months of the economic 12 months 2021-22 due to the decline in export of soyabean food and rapeseed meal.

Info out there with Solvent Extractors’ Affiliation (SEA) of India confirmed that India exported 19.43 lakh tonnes (lt) of oil foods throughout April-January of 2021-22 in opposition to 29.69 lt in the corresponding period of 2020-21, registering a decrease of 34.52 per cent.

India’s export of oilmeal stood at 1.76 lt in January versus 5.01 lt in January 2021, down by 64.74 for every cent.

Soyameal

Attributing this trend to the lesser export of soyabean food, BV Mehta, Govt Director of SEA, stated soyabean crush margins in India are presently squeezed by tension on food price ranges, and somewhat high cost expectation of farmers for soyabean seed. He mentioned soyabean seed rates are quoted in excess of ₹6,900 a quintal now.

He explained India is outpriced for soyabean meal export as it is quoted at $785 a tonne (ex-Kandla) against $595 of Brazil origin and $575 of Argentina origin (ex-Rotterdam).

He explained India is unlikely to be competitive for export in the next 2-3 months because of to the substantial selling price of domestic soyabean seed. Lesser crushing of soyabean is also pushing greater import of crude soyabean oil to India, he explained.

India’s export of soyabean meal lessened to 3.15 lt throughout April-January of 2021-22 towards 11.71 lt in the corresponding interval of the preceding fiscal, registering a decline of 73.09 for every cent.&#13

Rapeseed food

Mehta stated the non-availability of rapeseed for crushing has afflicted the export of rapeseed meal in excess of the very last 3 months.

Stating that India crushed rapeseed heavily through initial months of the time very last 12 months, he stated seed is rarely offered for crushing now. New crop will be out there for crushing from February-conclusion or early March.&#13

India exported 7.29 lt of rapeseed food in the course of the initial 10 months of 2021-22 in opposition to 9.90 lt during April-January of 2020-21, down by 26.36 per cent.

Ricebran

He claimed ricebran extraction is undertaking greater thanks to desire from Vietnam and Bangladesh. India exported 5.79 lt of ricebran extraction throughout April-January of 2021-22 against 4.29 lt in the course of the to start with 10 months of 2020-21, witnessing a development of 35.07 for each cent.

The region exported 3.17 lt of castorseed food for the duration of April-January of 2021-22 versus 3.67 lt in the corresponding period of the preceding fiscal.

Key importers

In the course of April-January this fiscal, South Korea imported 5.09 lt (7.26 lt) of oilmeals. This integrated 2.44 lt of rapeseed food, 2.28 lt of castorseed meal, and 35,446 tonnes of soyabean meal.

Vietnam imported 4.78 lt (3.93 lt) of oilmeals for the duration of the first 10 months of the latest fiscal year. This incorporated 3.98 lt of ricebran extraction, 76,060 tonnes of rapeseed food, 3,839 tonnes of soyabean meal, and 440 tonnes of groundnut meal.&#13

Stating that Bangladesh is importing rapeseed food and ricebran extraction from India, he claimed Bangladesh imported 2.90 lt of oilmeals (3.83 lt). This involved 1.07 lt of ricebran extractions, 1.83 lt of rapeseed food, and 229 tonnes of soyabean meal.&#13

Thailand imported 1.44 lt (1.84 lt) of oilmeals, Taiwan imported 77,350 tonnes (1.17 lt), and the US imported 58,354 tonnes (1.99 lt) of oilmeals throughout April-January of 2021-22.

The regular CIF export selling price of soyabean meal stood at $760 a tonne in January against $734 a tonne in December. The ordinary CIF export price of rapeseed meal was at $337 a tonne in January towards $302 a tonne in December.

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February 16, 2022