The Solvent Extractors' Association of India, representing the edible oil industry, has urged the government to refrain from extending the prohibition on de-oiled rice bran exports past July 31. This plea comes in light of a drop in domestic prices due to a rise in the supply of an alternative animal feed.
India usually ships 5 to 6 lakh tonnes of de-oiled rice bran each year, predominantly to Vietnam, Thailand, and other Asian nations, establishing its reputation as a dependable provider in the global market. Nevertheless, the authorities banned the export of this product in July last year due to soaring animal feed costs. Initially, the ban was set until March 31, 2024, but was subsequently prolonged until July 31.
Prices of de-oiled rice bran have decreased and are expected to continue to drop due to the rise in supply of distillers' dried grains with solubles (DDGS), a byproduct of the ethanol industry commonly used as animal feed, according to the SEA.
"In view of the sharp fall in prices of de-oiled rice bran, the association has appealed to the government not to extend the prohibition beyond July 31, 2024," SEA said in a statement. The move is aimed at helping Indian exporters regain their foothold in global markets and earn valuable foreign exchange, it said.
As per the SEA data, oilmeals export from India declined by 31% to 3,02,280 tonne during May this year from 4,36,587 tonne in May 2023. Soyabean extraction rose to 1,44,706 tonne last month from 1,14,228 tonne in May 2023, while rape-mustard extraction declined to 1,33,263 tonne from 2,33,663 tonne. Castor extraction also fell to 23,000 tonne from 43,761 tonne in the period under review.
In April–May 2024, the total oilmeal export was 767,436 metric tonnes, showing a 17% decrease compared to the previous year's 9,30,045 metric tonnes. This decline was primarily caused by lower exports of rapeseed meal and castor seed meal.
(With PTI inputs)
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