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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.
India typically exports 5-6 lakh tonne of de-oiled rice bran annually, mainly to Vietnam, Thailand and other Asian countries, positioning itself as a reliable supplier in the international market.
However, the government prohibited exports of the commodity on July 28 last year, citing high fodder prices, with the ban initially imposed until March 31, 2024, and later extended till July 31.
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.