Oilmeal exports up 57% on good overseas demand

Oilmeal exports jumped by 57% to 5.07 million tonne last fiscal, driven by the high price of edible oils, better crushing margins and demand from South-East Asia, according to an industry body.

The country shipped 3.22 million tonne of oilmeal (used as cattle and poultry feed) in the year-ago period, the Mumbai-based Solvent Extractors Association (SEA) said in a statement.

In the 2009-10 fiscal, exports were down due to lower crop production, coupled with disparity in crushing during the crucial November, 2009-February, 2010 period, the statement said.

"However, in 2010-11, the oilseed crop increased to 27.8 million tonne from 24.9 million tonne in 2009-10 and also high prices of edible oils, good crushing margin and demand from South-East Asia pushed the exports mainly during November, 2010-March, 2011," SEA Executive Director BV Mehta said.

In terms of value, oilmeal exports rose by almost 59% to Rs 8,220 crore as against Rs 5,176 crore in the corresponding period of the previous year.

In March, 2011, oilmeal exports rose more than twofold (158%) to 5.79 lakh tonne from 2.24 lakh tonne in the year-ago period.

Out of 50,71,779 tonne of oilmeals exported from the country during the past fiscal, the share of soyabean meal was maximum at 38,38,375 tonne, followed by rape mustard seed meal at 9,36,238 tonne, castormeal at 2,09,036 tonne.

Rice bran extracts comprised another 66,650 tonne and groundnut extracts 21,480 tonne.

Japan, Vietnam, South Korea, China and Indonesia were the major destinations where India exported oilmeals in the past fiscal.

It also shipped it to European Union countries, Thailand, Iran and Taiwan, among others.