Oilmeals export up 72% in H1, 2008

Written by Commodities Bureau | Mumbai, Oct 7 | Updated: Oct 8 2008, 07:56am hrs
The overall export of oilmeal during the first half (April-September) of the current financial year (FY2008-09 ) has increased to 25.10 lakh tonne from 14.56 lakh tonne during same period last year, up by 72 % due to an increase in the export of soybean meal, rapeseed meal and groundnut meal, according to data compiled by the Solvent Extractors Association of India (SEA).

However, export of oilmeal for the month of September reduced to 1.88 lakh tonne from 3.62 lakh tonne in September 2007 and 4.25 lakh tonne in August 2008.

Soya meal exports during the first half of the FY2008-09 increased from 7.77 lakh tonne to 16.64 lakh tonne, rapeseed meal exports went up from 3.94 lakh tonne to 6.04 lakh tonne and groundnut meal increased from 12,275 tonne to 27,033 tonne. However, export of other oilmeals i.e. rice-bran extraction and castor seed extraction have decreased in first half of the financial year of 2008-09.

Following SEA delegation visit to nations in Southeast Asia in May 2008, Vietnam has shown a quantum jump in import of oilmeal from India and reported at 5.87 lakh tonne from 5.33 lakh tonne last year, consisting of 4.66 lakh tonne of soybean meal, 33,668 tonne of rapeseed meal and entire 87,096 tonne of rice-bran extraction from India.

South Korea reported an import of 4.62 lakh tonne compared to 3.23 lakh tonne imported last year.