Oilmeal export up by 67% to 640,960 tn in Jan

India's oilmeal export went up by 67 per cent in January to 640,960 tonnes on the back of higher imports from Japan and the European Union.

"The overall exports of oilmeals rose to 640,960 tonnes in January 2011 against 384,563 tonnes up by 67 per cent in the same period last year," Solvent Extractors' Association of India (SEA) said in a statement.

"The overall export of oilmeals for April 2010 to January 2011 is reported at 3,788,472 tonnes compared to 2,670,932 tonnes up by 42 per cent," it added.

During November 2009 to February 2010, exports of oilmeals dropped heavily due to disparity in domestic market.

However, this year, during the last four months, recovery in soyabean meal exports coupled with good crush margin and better oil prices boosted the export.

Meanwhile, Europe has once again started buying soybean meal from India and about 163,976 tonnes were shipped during the last three months (November, 2010 to January, 2011).  

Major export destinations of Indian oilmeals include Japan, Vietnam, South Korea, China and Indonesia.