Oilmeal exports grow 115% last month

The Dollar Business Bureau

India’s oilmeal exports grew a whopping 115% in February 2017, due to a sharp increase in soyameal exports, according to The Solvent Extractors' Association of India (SEA) data.

India exported 2,63,509 tonnes of oilmeal as against 1,22,527 tonnes in February 2016.

The accumulative exports of oilmeal grew 18% to 16.73 lakh tonnes during the first eleven months of 2016-17 fiscal as against 14.23 lakh tonnes during the corresponding period of last year.

India exported 15.29 lakh tonnes of oilmeal in 2015-16. "The export of oilmeals during February 2017 has more than doubled and reported at 2,63,509 tonnes compared to 1,22,527 tonnes in February 2016," SEA said in a statement.

South Korea remained the top importer of Indian oilmeal at 5,10,006 tonnes, consisting of 1,67,760 tonnes of rapeseed meal, 3,33,576 tonnes of castor meal and 8,670 tonnes of soybean meal. Vietnam at 2,96,359 tonnes of total imports, comprising of 10,708 tonnes of rapeseed meal, 28,430 tonnes of soybean meal and 2,57,221 tonnes of rice bran extraction; France at 2,08,099 tonnes, consisting of 2,04,538 tonnes of soybean meal and 3,561 tonnes of castor meal; and Japan at 1,57,093 tonnes, consisting of 1,51,030 tonnes of soybean meal, 4,097 tonnes of rapeseed meal and 1,966 tonnes of castor meal remained the other top importers.

Kandla port handled accounted for a major portion of outbound shipments, at 8,73,006 tonnes (52%), followed by Kolkata at 2,79,091 tonnes (17%), Mumbai - JNPT at 2,09,186 tonnes (13%), and Mundra at 1,09,144 tonnes (7%) and others (including by Road) at 1,98,694 tonnes (12%).