India’s oilmeal exports jump by 18.3 per cent in July 2018, thanks to surge in rapeseed shipments

India’s oilmeal exports in July 2018 jumped by 18.3 per cent from a year earlier to 148,983 tonnes as shipments of rapeseed meal surged, according to latest data released by the Solvent Extractors’ Association of India (SEA).

The country’s July 2018 rapeseed meal exports soared 214 per cent from a year-ago period to 46,364 tonnes, buoyed by upbeat demand from South Korea, Thailand and Vietnam, SEA said. Soymeal exports in the month dropped to 63,748 tonnes from 87,797 tonnes, trade body said.

The overall export of oilmeal during April-July 2018 was reported at 8,98,871 tonnes, up nearly 24 per cent over the comparable period last year.

The ongoing trade dispute between US and China has created a lot of uncertainty and is forcing China to look out at other origins for their requirements of Soybean and oilmeals. This has compelled China to re-look over ban imposed for importing oilmeals from India since 2012, according to the SEA. This will open up Chinese market for India.

Last week an official delegation from ministry of commerce visited China and tried to sort out the issues. Prior to ban in 2012, China used to import nearly half a million tonnes of oilmeals viz rapeseed meal 3.5 to 4.0 lakh tonnes and 1.0 lakh tonnes of soybean meal from India, the note said.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

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