April 10, 2012

India's 2011/12 oilmeal exports up 8%

As a result of good kharif soy crop, depreciating rupee and crushing parity which boosted processing and export of oilmeals, Indian oilmeal export in terms of volume in 2011/12 grew 8% to 5,480,083 tonnes as compared to previous year's 5,071,779 tonnes, the Solvent Extractors' Association of India (SEA) said.

While in terms of value, there has been a marginal growth of 1% to INR8,300 crore (US$1.6 billion) in 2011-12 as compared to INR8,200 crore (US$1.597 billion) in the previous fiscal

Moreover, the export of oilmeals during March 2012 is reported at 575,972 tonnes compared to 579,907 tonnes in March 2011

Oilmeal import by Japan from India during April 2011 to March 2012 stood at 1,296,436 tonnes compared to 1,259,870 tonnes last year consisting of 1,266,840 tonnes of soy meal and 29,596 tonnes of rapeseed meal.

Similarly, Vietnam imported 903,554 tonnes compared to 853,869 tonnes last year consisting 668,114 tonnes of soy meal, 58,715 tonnes of rapeseed meal and entire quantity of 176,725 tonnes of rice bran extraction.