Oilmeal exports increase by 58% in June'11 over June'10

PUNE: Export of oilmeals has increased by 58% in June 2011 as compared to June 2010 due to increase in production of oil seeds in the country and increase in demand from Japan, Vietnam, South Korea and China.

A release of the Solvent Extractors Association stated that the there has been sharp increase in oilseeds production to 30.25 million tons in current year (2010-11) compared to 24.88 million tons in previous year (2009-10).

The export of oilmeals during April- June 2011 is doubled and reported at 1,072,098 tons compared to 536,700 tons during the same period of last year.

Oilmeal export from India to Japan have seen highest growth, jumping by 163% in April-June 2010-11 as compared to April-June 2009-10. Japan is followed by Vietnam. Oilmeal exports to Vietnam have increased by 95.90% during the same period.