Oilmeal imports cross 1.1 mt as demand from feed industry rises

Amid increasing demand from customers from the feed field, India registered document oilmeal imports in four a long time at 11,forty two,902 tonnes (1.1 mt) for the calendar year 2019-20.

According to Directorate Basic of International Trade (DGFT) information, India’s oilmeal/oilcake imports rose to 11,forty two,902 tonnes worth ₹3,218 crore for 2019-20 as in opposition to six,70,709 tonnes worth ₹2,558 crore in 2018-19. The benefit of imports rose by 26 for each cent.

India imports oilcake/meal for domestic processing as properly as for immediate use in cattle/poultry feeds.

“Import of oilcake/meal/feed is increasing calendar year by calendar year for processing by solvent extraction field to get well the oil or for immediate consumption by the feed field. The demand from customers of oilmeal is increasing as the feed field is rising at eight-ten for each cent, even though oilseed manufacturing in the place is much more or much less stagnant, primary to better imports,” stated BV Mehta, Govt Director, Solvent Extractors’ Association of India (SEA).

The imported oilmeals entice import responsibility at 15 for each cent in addition to 4 for each cent special more responsibility, totalling 19.six for each cent responsibility.

Notably, a big quantity of oilcake/foods is seen receiving imported at zero responsibility from some African countries underneath the India-Africa trade agreement of Least Improvement Nations or at lessened responsibility from SAARC countries. Details compiled by the SEA showed that during 2019-20, the principal oilmeal import item was sunflower seed oilcake/meal at 554,206 tonnes worth ₹1,003 crore. India is a major buyer from Ukraine and Tanzania.

Coconut oilcake/meal, which is the next biggest import item at 282,697 tonnes valued at ₹504 crore, is mostly imported from Indonesia, the Philippines and Singapore.

Rape/Mustard oilcake/meal ranks third with forty six,382 tonnes of imports worth ₹108 crore. India mainly buys it from Nepal, Canada and Ukraine.

India also imported significant quantity of compound feeds which include concentrated for compound animal feed and prawn and shrimps feed at 1,00,935 tonnes worth ₹1,341 crore mostly from Vietnam, Thailand, China and Sri Lanka.

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