India’s oilmeal exports to China surged dramatically to 7.79 lakh tonnes in the fiscal year’s first eleven months, buoyed by high demand due to competitive pricing, per data from the Solvent Extractors’ Association of India (SEA).
The leap in exports was spurred by a price advantage over European suppliers, according to SEA Executive Director BV Mehta. Indian rapeseed meal is priced at USD 225 per tonne, significantly cheaper than its European counterpart. Additionally, China’s imposition of tariffs on Canadian rapeseed meal created new market opportunities for India.
However, the future remains uncertain for Indian exporters with China lifting the tariffs on Canadian rapeseed meal. Global geopolitical tensions, particularly in the Middle East and Europe, are also causing logistical hurdles that could affect the continuity of India’s exports.
(With inputs from agencies.)
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