India: Oilmeal Exports down by 56% in March 2018

The export of oilmeals during the month of March 2018 has dropped by 56% to 75,393 tons compared to 170,496 tons in March 2017, according to provisional figures released by the Solvent Extractors’ Association of India (SEA).

However, overall export of oilmeals during the financial year 2017-18 rose by over 50% and was provisionally reported at 2,839,623 tons compared to 1,885,480 tons during 2016-17, thanks to higher export of rapeseed meal (up by 26%), ricebran extractions (up by 27%) and castorseed meal (up by 51%).

SEA said the higher exports were mainly due to measures announced by the government including raising of the import duty on edible oils by 12.5% to 15% across the board in November 2017 and increased MEIS (Merchandise Exports from India Scheme) on soybean meal to 7% from 5%.

In FY2017-18, Vietnam imported 646,490 tons of oilmeals (compared to 345,745 tons) consisting of 42,897 tons of soybean meal, 92,293 tons of rapeseed meal and 511,300 tons of de-oiled rice bran extraction. South Korea imported 752,799 tons of oilmeals (compared to 545,092 tons) consisting of 263,213 tons of rapeseed meal, 459,414 tons of castor meal and 30,172 tons of soybean meal.

Bangladesh imported 145,293 tons of oilmeals (compared to 230,588 tons) consisting of 27,127 tons of rapeseed meal, 5,857 tons of de-oiled rice bran extractions and 112,309 tons of soybean meal. Thailand imported 196,850 tons of oilmeals (compared to 23,517 tons) consisting 129,619 tons of rapeseed meal, 17,949 tons of de-oiled rice bran extractions and 49,247 tons of soybean meal.

European countries were major importers of Indian soybean meal. France imported 168,709 tons of oilmeals consisting 161,230 tons of soybean meal. Germany imported 131,813 tons of soybean meals.