India’s oilmeal exports rose 9 per cent to 14.03 lakh tonne during the first six months of the ongoing financial year, driven by sharp increase in shipments of rapeseed meal, according to industry data. The country exported 14,03,382 tonne during April-September 2018 as against 12,84,788 tonnes in the same period last year, the data compiled by Mumbai-based Solvent Extractors’ Association of India (SEA) showed. Rapeseed meal exports doubled to 6,01,105 tonne in the reported six months from 3,00,627 tonne in the year-ago period. South Korea, Vietnam and Thailand were major importers. However, exports of soybean meal fell to 3,92,736 tonne from 4,89,926 tonne during the period under review. As per the data, exports to Vietnam rose 24 per cent to 2,77,406 tonne during the first six months of 2018-19. Thailand imported 1,67,101 tonne during April-September 2018 as against 76,895 tonne in the year-ago period.
According to a latest update from the Solvent Extractors’ Association of India (SEA) the export of oilmeals during September 2018, is provisionally reported at 81,511 tons compared to 298,182 tons in September 2017 i.e. down by 73%. However, the overall export during April to September 2018 is reported at 1,403,382 tons compared to 1,284,788 tons during the same period of last year i.e. up by 9%. The ongoing trade dispute between USA and China has created a lot of uncertainty and forcing China to look out to other origins for their requirements of soybean and oilmeals. This has compelled China to relook its ban imposed for importing of oilmeals from India since 2012. According to Ministry of Commerce/Export Inspection Council of India.
The export of oilmeals during June 2018 has dropped by 33.56% as compared to June 2017 even though the overall export during April to June 2018 is reported at 654,774 tons compared to 599,346 tons during the same period of last year, up by 9%. The ongoing trade dispute between USA and China has created a lot of uncertainty and forcing China to look out to other origins for their requirements of soybean and oilmeals. This has compelled China to relook its ban imposed for importing of oilmeals from India since 2012. This will open up Chinese market for India. Of course, this is subject to clarification about phytosanitory certificate for export of oilmeals from India. During April – June 2018 Vietnam imported 116,839 tons of oilmeals (compared to 86,458 tons); consisting of 7,160 tons of soybean meal. South Korea imported 10,303 tons of soybean meal.
India is likely to export 4-5 lakh tonne of soymeal and rapeseed meal this year following China’s decision to cut import tariffs on soybean and some other goods from India. China’s cabinet has announced it will reduce tariffs on soybean imported from India, South Korea, Bangladesh, Laos, and Sri Lanka from the current three per cent to zero amidst a looming trade war with the US. The exports is likely to go up to 4-5 lakh tonnes, 2-3 lakh tonne soymeal and 2-3 lakh tonne rapeseed meal. India also presents a logistic advantage as the oilmeals can reach China in 5-6 days.
Export of oilmeals during February 2018 has dropped by 47% in comparison to February 2017 to 161,969 tons. The overall export of oilmeals during April 2017 to February 2018 provisionally is reported at 2,677,536 tons compared to 1,714,984 tons during the same period of last year – up by 56%.