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Our Bureau

Chennai , Jan. 5

OILMEAL exports from the country increased 55 per cent in December on recovery of soyameal shipments and buying by Far-East markets.

According to the Solvent Extractors' Association of India (SEA), export of oilmeals in December was 5.79 lakh tonnes (lt) compared with 3.74 lt during the same period year ago.

Overall export of oilmeals for the fiscal was up 23 per cent at 24.02 lt compared with 19.51 lt during the same period last year.

Oilmeal exports have made a remarkable turnaround after declining in the first quarter due to lower crushing of oilseeds and production.

"With improvement in crushing margin, production increased leading to revival of export. Also fresh demand from Taiwan, S. Korea and Vietnam following SEA delegation's visit in August 2005 helped prop up exports after the first quarter," according to SEA.

Exports of soyabean meal recovered after setbacks due to the fear of bird flu affecting its demand. On the other hand, Far-East markets operating at very low inventory in last two months, increased the buying which boosted exports. A strong rupee made Indian meal competitive besides helping in getting better margins. Also, the easy availability and increased movement in container load pushed exports during December.

The pace of overall export of oilmeals is likely to be maintained during the January-March quarter also.

Castormeal exports have also supported the revival. It has increased to 1.6 lt during April-December compared with 45,000 tonnes during the same period last year. This is because castormeal is being used as organic fertiliser in Vietnam, Thailand and Japan apart from the traditional Taiwan and South Korean markets. Groundnut and rapeseed meal more or less maintained their share, while rice bran extraction export rose to 60,000 tonnes (43,000 tonnes).

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