India's oilmeal exports rises 9 per cent to 14.03 lakh tonne

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 a 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 tonnes in the year-ago period.

Exports to France more than doubled to 76,704 tonnes from 35,520 tonnes earlier.

Germany imported 85,100 tonnes from India during the period under review from 42,612 tonnes in the year-ago six months.

Exports to South Korea rose marginally by 3 per cent to 4,41,119 tonne from 4,27,126 tonne in the year-ago period.

"The ongoing trade dispute between the US and China has created a lot of uncertainty and is forcing China to look out for 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," SEA said in a statement issued last week.

The association expects China to soon lift the ban for import of rapeseed meal from India.

"Prior to the ban in 2012, China used to import nearly half a million tonne of oilmeals viz. rapeseed meal 3.5 to 4 lakh tonne and 1 lakh tonne of soybean meal from India," SEA said.

(With inputs from agencies.)