Oilmeal exports more than double to 7.04 LT in Feb

Export of oilmeals, used as cattle and poultry feed, more than doubled to 7.04 lakh tonnes (LT) in February, driven by recovery in soyabean meal shipments and better crushing margins, according to an industry body.  

The country had shipped 3,29,448 tonnes in the same month last year, Mumbai-based Solvent Extractors Association (SEA) said in a statement. 

"During the last five months, recovery in soyabean meal exports coupled with good crush margin and better oil prices boosted the exports," SEA Executive Director B V Mehta said. 

Out of 7,03,400 tonnes of oilmeals exported from the country during last month, the share of soyabean meal was maximum at 5,40,360 tonnes, followed by rape mustard seed meal at 1,47,655 tonnes, castormeal at 13,110 tonnes, groundnut extraction at 1,475 tonnes and rice bran at 800 tonnes.   

Oilmeal shipments to South East Asia alone stood at 5.38 LT, Middle East at 1.11 LT and Europe at 53,605 tonnes last month, the SEA data showed.

Soybean meal exports rose to 5.40 LT last month from 2.20 LT in February 2010, it said, adding soyabean meal shipments to the European market is expected to rise in the coming months. 

The overall export of oilmeals till Feburary this fiscal also reported a jump of 50 per cent to 44.91 LT as against 30 LT in the same period last year, it said.

Vietnam, South Korea, Japan, China, Thailand and Indonesia are the major destinations where India exports oilmeals. India also exports it to neighbouring Sri Lanka, Pakistan and Bangladesh.