Oilmeal exports for October plummeted 58 per cent during the current financial year. Provisional estimates show India exported 84,143 tonnes of oilmeal as compared to 200,158 tonnes in October last year, marking a 58 per cent decline.
Overall export during the April-October 2018 was reported at 1,582,589 tonnes compared to 1,486,036 tonnes during the same period last year — up by 6.5 per cent.
The export of rapeseed meal sharply increased to 680,216 (323,358) tonnes in the first seven months, mainly on robust shipments to South Korea, Vietnam and Thailand, data shared by the Solvent Extractors’ Association of India (SEA) revealed.
The SEA further stated that the ongoing trade dispute between the US and China has created uncertainty and forced China to look at other origins for its requirements of soyabean and other oilmeals.
“This has compelled China to re-look its ban imposed for importing of oilmeals from India since 2012. We understand from the Ministry of Commerce/Export Inspection Council of India that China will soon resume import of rapeseed meal from India. Those units already approved by General Administration of Customs of the People’s Republic of China, GACC (formely AQSIQ) will be able to resume the export once their registration with Chinese Ministry of Agriculture (MoA) is done,” it said.
In case of resumption of export of soyameal, it may take some time as a Chinese GACC team is likely to visit India during the current month to inspect/approve units. Prior to the ban in 2012, China imported nearly half a million tonnes of oilmeals (including rapeseed meal at 3.5-4 lakh tonnes and 1 lakh tonnes of soyameal).
SEA has also expressed a possibility of opening up of the Iranian market for Indian soyameal and other oilmeals with rupee payment. This will boost Indian oilmeal exports.