The Hindu Business Line : Oilmeal exports at record high

Exports of oilmeal from the country touched a new high of 44.23 lakh tonnes in 2005-06, up by 64 per cent over the previous year's figure of 26.90 lakh tonnes.

Oilmeal export stood at 8,09,925 tonnes in March 2006 compared with 2,50,352 tonnes in March 2005, according to data compiled by the Solvent Extractors' Association of India.

Exports revival

In the first quarter of the year, exports were lower compared to the previous year, mainly due to lower crushing margins and production.

With improvement in crushing margins, production increased, leading to revival of exports.

Fresh demand from Vietnam, Japan, South Korea, China, Indonesia, Taiwan, and Thailand boosted sales.

Boost from scheme

The target plus scheme announced by Ministry of Commerce to promote exports also helped in the achievement of record levels during the last quarter. Exports of soyameal further improved to 34,24,600 tonnes (18,61,325 tonnes).

Exports of castormeal increased to 2,01,150 tonnes (70,750 tonnes) during the same period last year.

Groundnutmeal exports were reported at 1,37,925 tonnes (1,21,475 tonnes), while rapeseedmeal export slid by 55,530 tonnes due non-availability of rapeseed for crushing in the last few months.

Rice bran extraction exports were higher at 1,25,325 tonnes (43,056 tonnes).

Vietnam key buyer

Vietnam has emerged as highest importer of oilmeal, followed by South Korea, Japan, China, and Indonesia.

In terms of growth, exports to China jumped by 311 per cent over the previous year followed by Japan (237 per cent) and Vietnam (102 per cent).

Soyameal exports

Meanwhile, Mr Rajesh Agrawal, Chairman, Soyabean Processors Association of India, said export of soyameal during March was 6.97 lakh tonnes against 2.25 lakh tonnes during the same period a year ago, registering a whopping growth of 209.34 per cent.

Total soyameal for during last fiscal was 34.81 lakh tonnes compared with 19.72 lakh tonnes the previous year, up 76.55 per cent.

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