Oilmeal exports fell by 9 percent in the first half
15-Oct-2024 07:48 PM
Mumbai. Data compiled by the Solvent Extractors Association of India (SIA) shows that in the first half of the current financial year i.e. during April-September 2024, about 20.83 lakh tonnes of oilmeal (DOC) was exported from the country,
which was about 9 percent less than the shipment of 22.76 lakh tonnes in the same period last year. Compared to last year, during the current financial year,
the export of soya DOC jumped from 5.87 lakh tonnes to 9.09 lakh tonnes, but the export of mustard cake (rapeseed meal) fell from 13.45 lakh tonnes to 10.16 lakh tonnes, export of rice bran extraction fell from 1.52 lakh tonnes to 14 thousand tonnes,
shipment of castor meal fell from 1.82 lakh tonnes to 1.39 lakh tonnes and export of groundnut meal slipped from 11 thousand to 5 thousand tonnes.
In September 2024, a total of 2.14 lakh tonnes of oilmeal was exported including 60 thousand tonnes of soyameal, 1.31 lakh tonnes of rapeseed meal and 22 thousand tonnes of castor meal, which was 35 percent less than the shipment of 3.31 lakh tonnes in September 2023. Earlier,
there was a decline of 11 percent in August exports, 31 percent in May and 6 percent in April exports, while June shipments increased by 20 percent and July shipments increased by 18 percent.
The average unit export offer price of soyameal on free on board basis at Indian ports increased from $ 473 in August to $ 490 per tonne in September,
the offer price of rapeseed meal increased from $ 273 to $ 283 per tonne and the offer price of castor meal improved from $ 86 to $ 89 per tonne. Before that, the price of soyameal was running even higher.
South Korea, Vietnam, Thailand and Bangladesh were the top buyers of Indian oil meal while Iran and Taiwan also imported it in good numbers. In the April-September half year, India's oil meal exports to South Korea declined from 4.62 lakh tons to 3.59 lakh tons,
to Vietnam from 3.02 lakh tons to 1.32 lakh tons, to Thailand from 3.75 lakh tons to 2.12 lakh tons and to Bangladesh slipped from 4.36 lakh tons to 3.98 lakh tons while exports to Iran jumped from 48 thousand tons to 1.15 lakh tons. 70 thousand tons of DOC was sent to Taiwan.