India’s oilmeals exports jump 12% during April-Aug 2018; China to present more opportunity: SEA

India’s export of oilmeals during April to August 2018 is reported at 1,192,095 tonnes compared to 986,606 tonnes during the same period of last year, up by 21%, according to figures compiled by the Solvent Extractors’ Association of India (SEA).

The ongoing trade dispute between USA and China has created a lot of uncertainty and forced China to look out to other origins for its requirement of soybean and oilmeals.

This has compelled China to relook its ban imposed for importing of oilmeals from India since 2012 and the chances of that market opening up are bright, the SEA said.

Exports of rapeseed meal sharply increased by 107 per cent to nearly 490,232 tonnes in the first five months, mainly due to shiments to South Korea, Vietnam and Thailand.

During April – August 2018 Vietnam imported 235,723 tonnes of oilmeals (compared to 167,604 tons); consisting of 7,160 tonnes of soybean meal, 77,160 tonnes of rapeseed meal, and 151,403 tonnes of rice bran extraction.

South Korea imported 349,992 tonnes of oilmeals (compared to 337,270 tons); consisting 231,610 tonnes of rapeseed meal, 10,832 tonnes of soybean meal and 107,550 tonnes of castor meal.

Thailand imported 130,988 tonnes of oilmeals (compared to 57,228 tons); consisting 4,747 tonnes of soybean meal, 9,633 tonnes of de-oiled rice bran extraction, and 116,572 tonnes of rapeseed meal.

France imported 63,493 tonnes of oilmeals consisting 61,999 tonnes of soybean meal and 1,494 tonnes of castormeal.

Prashant has worked in the publishing industry for 17 years. His keen interest in commodities developed while working for organisations such as like Thomson Reuters, Wolters Kluwer & McGraw-Hill eventually brought him here. In his free time, Prashant consults with businesses in the digital space.

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