India Markets close in 9 mins

Caught in red tape: Export of soyabean meal to China unlikely this fiscal

FE Bureau
Export of soyabean meal, rapeseed meal, soyabean meal, South Korea, china, Ministry of Agriculture

The export of rapeseed meal and soyabean meal to China is unlikely to resume during the current financial year as the procedure for registration with the Ministry of Agriculture (MoA), China, is too cumbersome, lengthy and time-consuming to complete all formalities, said the Solvent Extractors Association of India (SEA) in its latest report. The Association, which has compiled the data for export of oilmeals for December 2018, stated the export of oilmeals during December 2018 was provisionally at 303,115 tonne, against 391,431 tonne in December 2017. The overall export of oilmeals during April-December 2018 rose 6% to 2,387,028 tonne, against 2,246,989 tonne during the corresponding period of the previous year.

The export of rapeseed meal had sharply increased to 821,777 tonne in the first nine months of 2018 from 461,937 tonne in the corresponding period of the previous year. It is mainly exported to South Korea, Vietnam and Thailand. According to SEA s executive director BV Mehta, the Iranian market has opened up for Indian soyabean meal. During the period from April-December 2018, about 3 lakh tonne of soyabean meal was shipped against 23,000 tonne in the corresponding period the previous year. This is a boost to the export of oilmeals from India.

Also read| Petrol, diesel prices kept unchanged for second day; petrol at Rs 68.50 per litre in Delhi

During April-December 2018, Vietnam imported 422,573 tonne of oilmeals (compared to 430,957 tonne); consisting of 45,909 tonne of soyabean meal, 139,009 tonne of rapeseed meal and 237,230 tonne of rice bran extraction. During the same period, South Korea imported 571,597 tonne of oilmeals (compared to 639,405 tonne); consisting 359,575 tonne of rapeseed meal, 24,048 tonne of soyabean meal and 187,974 tonne of castor meal.

Likewise, Thailand imported 252,790 tonne of oilmeals (compared to 139,148 tonne); consisting 20,025 tonne of soyabean meal, 10,306 tonne of de-oiled rice bran extraction and 221,836 tonne of rapeseed meal. France import 108,359 tonne of oilmeals (compared to 96,069 tonne); consisting 105,361 tonne of soyabean meal and 2,998 tonne of castor meal.