Oilmeal exports up 59% on global demand

High realisation, coupled with good demand in the exports markets, including the newly opened Vietnamese market, helped boost oilmeal exports by 59 per cent to 332,625 tonne in October from 209,425 tonne in the corresponding month last year.

"This is the lean period in which stockists always want to clear existing stocks before the supply for next season begins," said B V Mehta, executive director, Solvent Extractors' Association of India.

The total export of oilmeals jumped by 31 per cent during April-October at 1,966,100 tonne as compared with 1,500,733 tonne during the comparable period last year.

The soybean meal export jumped from 882,150 tonne to 1,195,475 tonne, while rapeseed meal export increased from 372,375 tonne to 525,075 tonne, thanks to the availability of rapeseed during the off-season from Nafed, which not only boosted the crushing and oil availability, but also increased availability of rapeseed extractions, leading to a boost in the export of rapeseed meal.

Ricebran extraction has also shown quantum jump and reached at 116,700 tonne compared with 41,000 tonne in the same period last year.

Exports to China during April-October 2006 sharply increased to 321,975 tonne from 183,975 tonne during the same period last year. China mainly imported soybean meal (79,800 tonne), rapeseed meal (198,975 tonne) and groundnut meal (43,200 tonne) from India. Vietnam has become largest importer of soybean meal, importing over 401,000 tonne.

South Korea, a traditional importer of rapeseed meal, bought nearly 198,000 tonne, while Vietnam supported the export of ricebran extraction to a great extent in the first seven months of the current year.

During April-October, export of castor meal reduced and reported at 80,750 tonne from 130,125 tonne last year, as South Korea reduced import from 84,150 tonne last year to just 44,600 tonne during current year.