India could develop into a key provider of rapeseed meal to China if Beijing eases its stringent commerce restrictions on the commodity, based on trade physique Solvent Extractors Affiliation of India (SEA).
A scarcity of rapeseed meal within the European Union has pushed world costs considerably larger. China, a significant client, at the moment imports the protein-rich animal feed primarily from Canada and the EU.
“Given the present provide constraints and rising costs, India has a renewed alternative to discover and recapture its misplaced share within the Chinese language market,” Mumbai-based SEA mentioned in an announcement.
Indian rapeseed meal is at the moment priced at USD 209 per tonne free alongside ship (FAS) at Kandla port, considerably decrease than the USD 335 per tonne being quoted ex-Hamburg within the worldwide market.
“Leveraging this chance couldn’t solely enhance India’s exports but additionally assist stabilize costs within the worldwide market,” SEA added.
India, the world’s third-largest rapeseed producer, traditionally exported over 2 million tonnes of rapeseed meal yearly.
Nevertheless, China has accounted for lower than 1 per cent of that quantity resulting from larger costs and former commerce restrictions.
