New Delhi,apr 20
India may become a key supplier of rapeseed meal to China if Beijing eases its stringent trade restrictions on the commodity, according to industry body Solvent Extractors Association of India (SEA).A shortage of rapeseed meal in the European Union has driven global prices significantly higher. China, a major consumer, currently imports the protein-rich animal feed primarily from Canada and the EU.”Given the current supply constraints and rising prices, India has a renewed opportunity to explore and recapture its lost share in the Chinese market,” Mumbai-based SEA said in a statement.Indian rapeseed meal is currently priced at $209 per tonne free alongside ship (FAS) at Kandla port, substantially lower than the $335 per tonne being quoted ex-Hamburg in the international market.”Leveraging this opportunity could not only boost India’s exports but also help stabilize prices in the international market,” SEA added.India, the world’s third-largest rapeseed producer, historically exported over 2 million tonnes of rapeseed meal annually. However, China has accounted for less than 1 per cent of that volume due to higher prices and previous trade restrictions.
