Export performance of DOC other than soya meal weak in April-May

19-Jun-2024 11:27 AM

Mumbai. Data compiled by Solvent Extractors Association of India (SIAI), a leading industry body, shows that the total export of oil meal from the country declined to 7,67,436 tonnes in the first two months of the current financial year i.e. April-May 2024,

which was 17 percent less than the shipment of 9,30,045 tonnes in the same months last year. During the period under review, export of soya DOC increased from 2,91,471 tonnes to 3,44,508 tonnes,

but the shipment of mustard cake (rapeseed meal) declined from 4,80,232 tonnes to 3,64,074 tonnes, castor meal fell from 73,238 tonnes to 57,387 tonnes and export of groundnut extraction slipped from 5227 tonnes to 1467 tonnes.

An important thing is that in April-May 2023, about 80 thousand tonnes of rice bran extraction was exported from the country, but this year its shipment could not be done because its export has been banned since July 2023.

It is worth mentioning that the export performance of oil meal remained weak during both the initial months of 2024 as compared to 2023.

Under this, exports in April fell by 6 percent from 4,93,448 tonnes to 4,65,156 tonnes and shipments in May fell by 31 percent from 4,36,597 tonnes to 3,02,280 tonnes. During the current year, the export of soya meal was recorded at 1,99,803 tonnes in April and 144706 tonnes in May.

The average unit export offer price (free on board) at Indian ports was recorded at $506 per tonne for soymeal, $284 per tonne for rapeseed meal and $77 per tonne for castor meal during May 2024 as against $492, $278 and $76 per tonne in April 2024 and $570, $251 and $112 per tonne in May 2023. The increase in offer price led to weak export performance of all DOCs in May 2024 as compared to April.