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As per data from the Solvent Extractors’ Association of India, the export of oil meals saw a fall of 47% during February 2018 when compared with February 2017 and reached to 161,969 tons. Earlier it was estimated that the overall export of oil meals during the period of April 2017 to February 2018 is 2,677,536 tons which are higher by 56% if compared with the 1,714,984 tons of oil meal export in the same period of last year.
The government had increased the import duty on edible oils in November 2017 in range of 15% from 12.5% and also the MEIS on the soybean meal from 5% to 7%. These moves from the government proved to fruitful as the Indian oil meal came out as more competitive in the international market. The oil meal exports increased in the current year from a low of two bad years. The Indian oil meals exports though have revived have not reached the level of 40 lakh to 50 lakh tonnes that happened in the earlier years.
In between April 17 and Feb18 Vietnam imported oil meal 564,091 tons from India in comparison to 323,297 tons oil meal imported in the same period of last year. This import by Vietnam consisted of 42,456 tons of soybean meal, 84,788 tons of rapeseed meal and 436,847 tons of De-oiled Rice Bran Extraction.
South Korea imported 756,946 tons of oil meal from India in the period under study when compared to 514,702 tons a year ago. The imports can be divided into 267,360 tons of rapeseed meal, 459,414 tons of castor meal and 30,172 tons of soybean meal.
India exported Bangladesh 138,889 tons of oil meal in April 17-Feb 17 which was at 230,588 tons. This import consisted of 26,037 tons of rapeseed meal, 5,857 tons of De-oiled Rice Bran Extractions and 106,995 tons of soybean meal.
Thailand’s oil meal imports from India show a marginal increase in the studied period reaching to 167,681 tons when compared to 16,925 tons of import a year ago. These imports consist of 105,997 tons of rapeseed meal, 13,502 tons of De-oiled Rice Bran Extractions and 48,147 tons of soybean meal.
Major importers of the Indian soybean meal were the countries of European Union. France bought 141,948 tons of oil meals in the period under study which was slightly lesser than the figure of 208,489 tons of last year. The imports in the said period consist 136,519 tons of soybean meal and 5,429 tons of Castor meal. Other European countries oil meal imports reached to 341,145 tons.