August 5, 2011
Oilmeal exports from India rose 13% in July, up for consecutive nine months, as purchases from the Middle East climbed and demand from Asia improved, a trend which is likely to continue next month.
Oilmeal exports rose to 272,308 tonnes in July from a year ago, trade body the Solvent Extractors' Association of India said in a statement.
July's oilmeal exports were up 8.8% on June, mainly due to a rise in exports to Vietnam, Japan and Taiwan.
Traders said demand improved from Vietnam as quality concerns about Indian oilmeal eased.
In April, Vietnam rejected soymeal supplies from India over pest infestation issues but imports were never fully halted.
Two soy crushing plants have recently started up in Vietnam and expectations are that they will increase the country's soy imports while reducing purchases of soymeal.
Soymeal exports, which share the bulk of India's oilmeal sales, rose by a fifth to 139,547 tonnes in July from the previous month.
"Exporters can tap emerging markets in the Middle East where oilmeal sales have risen," analysts said.
Oilmeal exports in April to July to the Middle East soared 286% to 174,549 tonnes, as overall exports in the period rose about 80% to 1.4 million tonnes over a year ago.
The overall rise slowed from a doubling of volumes in the April to June period and traders said that was due to lower rapeseed meal exports to South Korea, Thailand and Indonesia.
Oilmeal exports in the 2010-11 fiscal year that ended in March rose to 5.1 million tonnes from 3.2 million tonnes in 2009-10.