Industry sources said that China has bought 52,000 tonnes of Indian rapeseed food in the last three weeks – four times the amount of Beijing imported from India in 2024 – Chinese authorities put 100% anti -repayment tariff on Canadian imports, said the industry sources.
The export of India’s rapeseed food will help China, the world’s top consumer, replacing imports from Canada, reducing the pressure on local rapeseed prices in India, sitting on a large stockpile of widely used animal feed.
“Chinese buyers started showing interest in Indian rapesid food in the last few weeks due to tariff on Canadian supply,” said an official with a prominent rapeseed food exporter.
China imposed a 100% repayment tariff on rapeseed food and oil imports from Canada starting on March 20.
China bought an Indian rapeseed meal for quick shipment at $ 220 to $ 235 per metric tons on a cost and freight basis, stated by sources who refused to name the name as they were not authorized to talk to the media.
India, the world’s third largest rapeseed manufacturer, is struggling to export significant quantities of rapeseed to China due to high prices.
In 2024, China imported 2.02 million metric tonnes of rapeseed food from Canada, 504,000 tonnes from the United Arab Emirates and 135,000 tonnes from Russia, according to customs data. It bought only 13,100 tonnes from India.
India exported more than 2 million tonnes of rapeseed food, but China calculated less than 1%.
“The demand for sugar is very large. If its current purchase speed continues in the next few months, it could emerge as one of the biggest buyers of the Indian rapeseed food,” a source said.
South Korea, Bangladesh, Thailand and Vietnam are traditionally responsible for the wholesale of India’s rapseed food exports.
BV Mehta, Executive Director of Solvent Extractors Association (SEA), said, “India can increase shipment from about 2 million tonnes to 2.5 million tonnes this year, given the surplus in India and the decrease in the world market.”
With the introduction of the new season supply, India’s rape -case shares are expected to increase.
Weak local demand has increased the prices of Indian rapeseed food to about $ 200 per tonne based on a free-on-board, below $ 248 in February and below $ 278 a year ago, according to sea figures.
(This story is not edited by NDTV employees and auto-generated from a syndicated feed.)
