SEA seeks end to export ban on de-oiled rice bran as prices slump
New Delhi: The Solvent Extractors’ Association of India (SEA) has urged the government not to extend the export ban on de-oiled rice bran beyond July 31, citing plummeting prices and increased supply of DDGS. SEA highlighted a 31% drop in oilmeals exports in May, with soybean extraction rising but rapeseed and castor extraction declining. Overall oilmeals exports for April-May 2024 fell 17% year-on-year.
New Delhi: Edible oil industry body SEA on Tuesday appealed to the government not to extend the ban on export of de-oiled rice bran beyond July 31, as domestic prices have slumped on increased supply of an alternative animal feed.
De-oiled rice bran prices are now at lower levels and likely to decline further with increased availability of distillers’ dried grains with solubles (DDGS), a byproduct of the ethanol industry used as an animal feed, the Solvent Extractors’ Association of India (SEA) said.
“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 per cent 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. The overall export of oilmeals during April-May 2024 was 767,436 tonne, down 17 per cent from 930,045 tonne year-on-year mainly due to reduction in export of rapeseed meal and castorseed meal.
Source Link: https://www.deccanherald.com/business/sea-seeks-end-to-export-ban-on-de-oiled-rice-bran-as-prices-slump-3070776
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