Agri Buzz: Oilmeals Export Rises Around 10% On Year

19 May 2022 , 12:10 PM

The Solvent Extractors Association of India has compiled the export data for export of oilmeals for the month of April 2022 provisionally reported at 333,972 tons compared to 303,705 tons in April 2021 i.e. up by 10% mainly due to huge export of rapeseed meal and reported at 229,207 tons during Apr.22 compared to 93,984 tons in previous month. Year 2021-22 was downturn of the export of oilmeals and down to 23.8 lakh tons from 36.8 lakh tons in previous year and in term of value-wise earning down to nearly 37% i.e. Rs. 5600 crores from Rs.8900 crores in 2020-21. In the current year (2022-23), the performance during first quarter likely to be lower as in case of soybean meal, India is totally out priced in the international market due to high price of soybean in the domestic market. Current price of soybean meal FOB Kandla quoted at US$ 730, while soybean meal Argentina CIF Rotterdam quoted at US$ 510 and Brazil at US$ 505. Export of Rapeseed meal likely to be increased due to higher crushing and solvent extraction of rapeseed cake. India is likely to be the competitive supplier to South Korea, Vietnam, Thailand and other Far East Countries.Powered by Commodity Insights