Oilmeal exports down 4% in August, says Solvent Extractors’ Association

By Dan Neff On Sep 17, 2021

India’s export of oilmeal, used as animal feed, declined 4 per cent to 1,64,831 tonne in August from the year-ago period, in view of domestic shortage of the key oilmeal products, industry body SEA said on Friday. To meet local shortages, the government has allowed import of genetically modified (GM) soyameal and it should give some relief to the poultry industry, it said in a statement.

Oilmeals are used as animal feed in poultry and other sectors. Oilmeal exports stood at 1,71,515 tonne in August 2020.

According to the latest data released by the Solvent Extractors’ Association (SEA), soyameal exports declined sharply to 10,975 tonne in August this year from 58,190 tonne in the year-ago period.

“India is currently out priced for export of soybean meal and unlikely to revive till we have the new crop in October-November,” it said.

Even export of castorseed meal declined to 18,160 tonne from 32,825 tonne in the period.

However, export of rapeseed meal rose to 63,058 tonne in August this year from 50,580 tonne in the year-ago period and that of ricebran extraction rose to 72,638 tonne from 29,375 tonne.

SEA said rapeseed meal export increased substantially due to higher shipment to South Korea, Thailand and Bangladesh. Ricebran extraction export performed better due to larger demand from Vietnam and Bangladesh.

South Korea, Vietnam and Thailand are the three major export destinations for oilmeal for India.

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