The overall exports of oilmeal between April 2017 and January 2018 were provisionally reported at 23,62,049 tonne. This was an increase of 68 per cent vis-a-vis the exports in the same period of last year (14,09,527 tonne) as stated by the Solvent Extractors’ Association (SEA) of India, which compiled the data for export of oilmeal for the month of January 2018.
The export in January 2018 was provisionally reported at 1,16,150 tonne vis-a-vis 2,39,613 tonne in January 2017 (i.e. down by 52 per cent). On November 17, 2017, the government raised the import duty on edible oils by 12.5 per cent to 15 per cent across the board and increased the Merchandise Export from India Scheme (MEIS) on soybean meal to seven per cent from five per cent.
These steps have made Indian oilmeal more competitive in the world market and may result in larger export of oilmeal during the current year.
Major importers of oilmeal
Between April 2017 and January 2018, oilmeal imported by Vietnam from India was reported at 4,45,489 tonne compared to 2,71,144 tonne. It consisted of 31,169 tonne of soybean meal, 70,123 tonne of rapeseed meal and 3,44,197 tonne of de-oiled rice bran extraction. South Korea imported 6,70,204 tonne compared to 4,63,019 tonne. It consisted of 2,26,360 tonne of rapeseed meal, 4,15,510 tonne of castor meal and 28,334 tonne of soybean meal.
Bangladesh imported 1,27,275 tonne compared to 1,76,688 tonne. It consisted of 26,037 tonne of rapeseed meal, 5,857 tonne of de-oiled rice bran extractions and 95,381 tonne of soybean meal. Thailand imported 1,45,452 tonne compared to 12,943 tonne. It consisted of 1,01,312 tonne of rapeseed meal, 9,454 tonne of de-oiled rice bran extractions and 34,651 tonne of soybean meal. European countries were the major importer of Indian soybean meal. France imported 1,03,541 tonne compared to 1,26,456 tonne. It consisted of 98,310 tonne of soybean meal and 5,231 tonne of castor meal. The rest of the European countries imported 3,50,514 tonne of oilmeal, mainly soybean meal.
Source: FnB News