Oil meal exports declined by 17 percent in April-May

18-Jun-2024 04:35 PM

Mumbai. Data compiled by the Solvent Extractors Association of India (SIA) shows that during May 2024, oil meal exports from the country declined to 3,02,280 tonnes,

which was 31 percent less than the shipment of 4,36,597 tonnes in May 2023. During the first two months of the current financial year i.e. April-May 2024, a total of 7,67,436 tonnes of oil meal (DOC) was exported from the country,

which was 17 percent less than the total shipment of 9,30,045 tonnes in April-May 2023. During the period under review, export of soybean DOC remained normal,

but the shipment of mustard cake (rapeseed meal) and castor meal decreased. Export of rice bran extraction has been banned for the last several months.

It is noteworthy that 5-6 lakh tonnes of de-oiled rice bran was being exported from India every year, which was sent to some other Asian countries including Vietnam and Thailand.

Its shipment was done on a large scale from Kolkata port. India had become a reliable and permanent supplier of it in the international market, but the government announced a ban on its export on 28 July 2023 and this ban remains in place till now.

Earlier this ban was imposed till 31 March 2024, but later its time limit was extended till 31 July 2024. Now the association has urged the government not to extend the ban period beyond July as it is causing huge losses to the rice millers especially of Bengal.