December 7, 2010

Indian oilmeal exports increases in November

According to the latest data compiled by Solvent Extractors' Association of India (SEA), India's total oilmeal exports during November 2010 increased by 42% from 492,740 tonnes to 346,859 tonnes.

The overall export of oilmeals for April-November 2010 increased 26% from 2,381,558 tonnes to 1,890,706 tonnes.

SEA mentioned that exports of soymeal in November 2010, jumped to 443,488 tonnes from 297,340 tonnes in last November 2009. Rapeseed meal nearly doubled compared to November 2009 due to gradual improvement in markets coupled with increased activities in crushing.

These factors increased the export of oilmeals from India, helping India to liquidate most of the carry overstock of soy before the start of a new season. The export of oilmeals and crushing was also supported by good crush margin in the last two months due to better oil prices. All these positive factors boosted overall meal export in October and November 2010.