Oil powder exports increased to 354,000 tons in August, compared with 2.81 metric tons in August 2022, an increase of 25.74%. Data from the Solvent Extractors Association of India (SEA) showed that the total export volume of oil powders during April-August 2023-24 was 19.45 liters as compared to 15.21 liters in the corresponding period of the previous fiscal, registering a growth of 27.85%.
BV Mehta, executive director of SEA, said that the price of Indian soybean meal in the international market was higher than that in the international market last year.
He said exports have recovered this year and India exported 4.81 liters of soybean meal during April-August 2023-24 as compared to 1.07 liters in the same period in 2022-23.
Mentioning the much better performance of rapeseed meal exports, he said the country exported 11.55 liters of rapeseed meal in the first five months of 2023-24 as compared to 10.77 liters in April-August 2022-23.
During this period, India exported 1.51 L (2.04 L) of rice bran extract and 1.46 L (1.29 L) of castor seed meal. Talking about the ban on the export of de-oiled rice bran, he said that the country exports 5-6 liters of de-oiled rice bran every year, mainly to Vietnam, Bangladesh and Thailand. From April to July this year, the country exported about 1.5 liters of deoiled rice bran.
- Also read: India hikes windfall tax on crude oil amid rising prices
However, the government has banned the export of de-oiled rice bran from July 28 to November 30. This decision could have far-reaching negative impacts on domestic rice bran processors and de-oiled rice bran exports. “The neighboring country is the major export destination for many solvent extraction units producing de-oiled rice bran from the eastern states, including West Bengal,” he said.
Between April and August, South Korea imported 3.82 liters of oil meal (4.52 liters) from India. This includes 2.91 liters of rapeseed meal, 68,732 tons of castor meal and 21,600 tons of soybean meal.
Between April and August, Vietnam imported 2.85 liters of oil meal (2.52 liters) from India. This includes 90,540 tons of rice bran extract, 1.44 liters of rapeseed meal, 49,044 tons of soybean meal and 748 tons of peanut meal.
Between April and August, India exported 3.49 liters of oil meal (3.17 litres) to Thailand. This includes 3.37 liters of rapeseed meal, 6,115 tons of soybean meal, 4,666 tons of rice bran extract and 701 tons of castor seed meal.
Between April and August, Bangladesh imported 3.82 liters of oil meal (1.66 liters) from India. This includes 27,771 tons of rice bran extraction, 1.90 liters of rapeseed meal and 1.63 liters of soybean meal.