Oilmeal exports up on China demand

The country exported 1.63 million tonne of oilmeal during April-September, up 26.3 per cent from a year ago, according to data released by the Solvent Extractors' Association of India today.

Total oilmeal exports in September were 105 per cent higher year-on-year at 324,325 tonne, while soymeal exports during the month were at 179,475 tonne, up 74.8 per cent compared with last year.

Soymeal exports during April-September rose to 975,975 tonne from 721,900 tonne in the year earlier period.

Soymeal is the largest constituent of India's total oilmeal export basket, with a share of over 50 per cent. The industry body said the jump in overall exports have also been aided by higher exports to China and Vietnam.

China imported 79,800 tonne soymeal, 171,475 tonne rapeseed meal and 43,200 tonne groundnut meal from India, while Vietnam emerged as the largest soymeal importer, buying over 325,0000 tonne from Indian markets.

The body said high availability of rapeseed during the off-season increased crushing and gave a boost to April-September rapeseed exports, which have increased to 451,075 tonne, up 34.6 per cent on year. Rapeseed exports during September, however, were marginally lower than August.