According to data compiled by the Solvent Extractors’ Association of India (SEA), India’s total export of oilmeals in July 2018 stood at 1,48,983 tonnes, thus recording a spurt of 18.33 per cent compared to July last year.
The overall export from April to July this year was reported at 8,98,871 tonnes, up by nearly 24 per cent over the comparable period last year. The SEA noted that export of rapeseed meal saw a sharp jump, at 90 per cent, in the last three months due to strong demand from South Korea, Vietnam and Thailand.
The ongoing trade war between the US and China has also created a lot of uncertainty and is forcing China to look to other origins for its requirement of soyabean and oilmeals. This has reportedly compelled it to reconsider the ban imposed on importing oilmeals from India since 2012, according to the SEA.
A potential opening of the Chinese market for India. Prior to the ban, China used to import nearly half a million tonnes of oilmeals from India. Last week, an official delegation from the Ministry of Commerce had visited China to sort out the issues, reports said.