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India's exports of oilmeals spurt 18% in July 2018: SEA

The Solvent Extractors Association of India (SEA) in its latest report has stated that India's total export of oilmeals for the month of July stood at 1,48,983 tonnes, recording a growth of 18.33% over the July 2017. Besides, the overall export during April-July 2018 was reported at 8,98,871 tonnes, up nearly 24% over the comparable period last year.

The SEA noted that export of rapeseed meal jumped sharply, recording a spurt of 90% in last three months on the back of strong demand from South Korea, Vietnam and Thailand. The ongoing trade dispute between US and China has also created a lot of uncertainty and is forcing China to look out at other origins for their requirements of Soybean and oilmeals.

According to the SEA, this has compelled China to re-look over ban imposed for importing oilmeals from India since 2012. This will open up Chinese market for India. Prior to ban in 2012, China used to import nearly half a million tonnes of oilmeals viz rapeseed meal 3.5 to 4.0 lakh tonne and 1.0 lakh tonne of soybean meal from India.

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